SWIFT Banks to Roll Out Instant Cross-Border Payments

More than 30 banks in 17 countries, including Mizuho and JPMorgan, are set to participate in a new framework for instant cross-border payments through the SWIFT network. This aims to improve convenience and compete with fintech players. The rollout is expected as early as this year, with the goal of reducing the typical processing time for cross-border payments, which can take more than a day.