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SWIFT has launched a blockchain-based ledger for tokenized deposits, enabling 24/7 cross-border interbank payments. Seventeen banks from six continents, including BNP Paribas, Citi, HSBC, and Wells Fargo, will begin pilot payments on the network. SWIFT developed the ledger from proof of concept to activation in nine months. The system allows correspondent banks to manage liquidity more efficiently by settling tokenized deposits outside of traditional banking hours. Thierry Chilosi, SWIFT Chief Business Officer, stated the blockchain maintains the security and compliance standards required by global finance. SWIFT noted this ledger provides a foundation for future programmable money and agentic payments.
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White House officials say they received no names from Senate Democrats for Democratic vacancies on the SEC and CFTC, leaving both agencies understaffed at the leadership level. A Thursday letter from the White House to Senate leaders followed a June 10 request from 12 Democratic senators over staffing concerns. The SEC has two vacant Democratic seats with three Republican commissioners, and Republican CFTC Chair Michael Selig is the sole commissioner. President Donald Trump has not announced any nominations since June 24. Selig warned that without bipartisan support for crypto market structure legislation like the CLARITY Act, regulators will be left to write all the rules on digital assets.
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