Ethereum News Today: Remittix Targets 15% SWIFT Market Share With Ethereum-Powered PayFi Innovation

Banks have long relied on SWIFT for cross-border transactions, but the system is now facing a 15% decline in transaction volume, as institutions increasingly seek faster alternatives [1]. This shift is driven by the rise of blockchain-based payment solutions, which offer faster settlement times and lower fees. One project attracting attention is Remittix (RTX), an Ethereum-based PayFi coin that is building live payment corridors and has already executed over $28 million in pilot transfers through corridors in Ghana and Kenya [1]. The project has raised more than $18 million, with 580 million tokens sold at $0.0895 each, indicating strong backing from investors.

Ethereum’s network activity has also surged, with daily transactions reaching 1.516 million on August 3, reflecting a 39% year-over-year increase. Though this marked a 7.7% decline from the previous day, the network recorded a 57.4% monthly gain in July, the strongest performance in three years [1]. This growing capacity reinforces Ethereum’s potential to handle large PayFi volumes, especially with advancements in Layer-2 rollups and fee optimizations that enhance scalability and transaction throughput.

Remittix is leveraging Ethereum’s programmable infrastructure to create real-world payout systems. The project’s API is already operational with payment providers across three continents, enabling invoice-to-bank transfers that settle in under 60 seconds [1]. This efficiency contrasts sharply with SWIFT’s multi-day settlement times and intermediary-driven fee structures. Remittix’s tokenomics are designed for long-term growth, with a deflationary model and a utility-driven approach that powers real transaction volume. The project is also notable for its product development before token generation event (TGE), setting it apart from many speculative blockchain projects.

The project is currently running a $250,000 community giveaway and is preparing for the Q3 2025 beta launch of its wallet [1]. These efforts aim to build a robust user base ahead of broader adoption. Key features positioning Remittix as a potential SWIFT alternative include global payout corridors, a utility-first token, and a product-first development strategy. The platform is ideal for freelancers, remitters, and global earners who require fast, cost-effective cross-border payments.

As the PayFi market continues to evolve, the transition from legacy systems like SWIFT to blockchain-based solutions is accelerating. Remittix’s integration of Ethereum’s throughput with a focused PayFi strategy positions it as a viable alternative to traditional systems. Investors are advised to conduct their own research before making any investment decisions, as market conditions and project developments can change rapidly [1].

Sources:

[1] Can This Ethereum-Based PayFi Coin Replace SWIFT For Good? (https://coinmarketcap.com/community/articles/6891d03c3ef53d6dd41fa24c/)