Traditional interbanking platform SWIFT has announced its plans of launching a Proof-of-Concept (POC) dubbed GPI Link in order to connect blockchain-based company R3 to join to Global Payments Innovation, Yahoo reports.
During an economic panel with Ripple CEO, Brad Garlinghouse, the head of SWIFT, Gottfried Leibbrandt said that their GPI platform "is extremely interoperable and open, and we’ve always had links to other networks."
"We are announcing later today a Proof-of-Concept with R3 blockchain on trade, where you can initiate a payment on the trade platform, and then it goes into GPI. So we’re exploring interconnectivity with a lot of things," Leibbrandt said.
As it states, clients who are using R3 will now be able to authorize payments through GPI Link.
Last year, SWIFT was testing a new blockchain-focused system which could improve financial institutions’ services.