Why Banks Joining SWIFT Digital Assets Is Important

Some of these news headlines really fall under the radar in terms of people understanding the impact of them all. Right now the markets are falling which is causing a lot of people to discredit news headlines and only feel like it's going to keep going down. That's rarely ever the case and some major news just recently broke that involves further adoption of the blockchain and crypto worlds and that is that banks are now joining SWIFT for digital assets.

Why is that such a big deal?

If you didn't know SWIFT is used for making massive transactions at volume from country to country to buy bulk resources such as oil, gold, silver and other types of commodities. With this move it will allow banks and SWIFT in particular to be able to use digital assets opening up a whole new market and means of trade between countries at a fast and trusted level we haven't yet seen.

This is expected to go into effect come next year where they will be doing live trials of digital asset transactions. This will also now allow banks themselves to move digital assets in bulk seamlessly.

It will be interesting to watch this along with other major events unfolding come November and how the crypto markets react to it.