Yesterday it was announced that digital payments start-up BTL Group and credit card company Visa have started working on the blockchain-based cross-border settlement software. The usual benefits of that kind of solution are included:
“The project will use BTL’s cross-border settlement platform Interbit to explore the ways in which blockchain-based settlements can reduce the friction of domestic and cross-border transfers between banks – reducing cost, settlement time, credit risk … ”
This project is a part of Visa Europe Collab, the goal of which is to deliver innovative products in a short timeframe.