Michael Miebach Usa Switzerland business Blockchain MasterCard Michael Miebach Usa Switzerland

WEF 2022: SWIFT probably won't exist in 5 years, says Mastercard CEO

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Mastercard CEO Michael Miebach said on Tuesday that he does not expect SWIFT, one of the most widely used platforms for cross-border fiat transactions, to exist in five years' time.

Miebach was speaking at a panel session on central bank digital currencies (CBDCs), as part of the Global Blockchain Business Council (GBBC)’s Blockchain Central Davos conference, which ran adjacent to the World Economic Forum 2022 in Davos, Switzerland.Kicking off GBBC’s #BlockchainCentral Davos session on CBDCs with @eva_szalay @FT @YuvalRooz @digitalassetcom @Jbrookslassiter @Digital_Dollar_ @MiebachMichael @Mastercard @BIS_org @DBTreat @Accenture pic.twitter.com/C2fvgy0BijTowards the end of the panel discussion, when the moderator asked each panelist whether they thought SWIFT would still exist in five years' time, Miebach caused the audience to gasp in shock after answering “no”, according to a Cointelegraph reporter who attended the session.

Read more on cointelegraph.com
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