“Swift said not that long ago they didn’t see blockchain as a solution to correspondent banking. We’ve got well over 100 of their customers saying they disagree.”
In September, investment bank JP Morgan announced plans to roll out its blockchain payments plan to a network of more than 75 different banks including Santander and Société Générale.
Banks are looking at the technology as a means of improving the efficiency of cross-border payments, which are often complicated by the involvement of regulatory compliance checks and missing data that can delay transactions for weeks.
Rumours have circulated about a potential tie-up between Ripple and Swift, but Mr Garlinghouse denied the claims.
“What we’re doing and executing on a day-by-day basis is, in fact, taking over Swift,” he said.
