Red Date Technology, the state-backed company behind the Blockchain Service Network, hopes its new Universal Digital Payments Network will serve the same role as the Society for Worldwide Interbank Financial Telecommunication (Swift), but for stablecoins and central bank digital currencies. Photo: Bloomberg
China’s state-backed blockchain project aims to be the Swift of stablecoins and central bank digital currencies
- Red Date Technology compares its new project to Swift, as it facilitates cross-border payments by making stablecoins and CBDCs interoperable
- The company, which develops the Blockchain Service Network, announced the launch of its new network at the World Economic Forum in Davos
Updated: 8:00am, 21 Jan, 2023
Red Date Technology, the state-backed company behind the Blockchain Service Network, hopes its new Universal Digital Payments Network will serve the same role as the Society for Worldwide Interbank Financial Telecommunication (Swift), but for stablecoins and central bank digital currencies. Photo: Bloomberg
