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SWIFT Spokesman Calls Cryptocurrencies ‘Useless and Unstable’

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europa7   Monday, 09/09/19 01:21:13 PM
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SWIFT Spokesman Calls Cryptocurrencies ‘Useless and Unstable’
https://beincrypto.com/swift-spokesman-calls-cryptocurrencies-useless-and-unstable/

"...Recently, a spokesperson for SWIFT criticized the entire cryptocurrency industry while at a breakfast briefing, as reported by FinTech Futures. The main topic of conversation was regarding SWIFT’s new European E2E payments pilot, said to be able to achieve sub-one-minute payment times..."

“They go down in value like a yoyo, they’re useless and unstable. And even if crypto companies do make it stable, it’s still a basket of currencies,” the SWIFT spokesman said. The only cryptocurrency SWIFT said has promise, unsurprisingly, is Facebook’s forthcoming Libra. For the rest of the industry, the network “doesn’t see it affecting payments short-term.”

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