[SWIFT Processes Approximately $5 Trillion Daily, Stablecoins and Tokenized Deposits Accelerate Challenges to Cross-Border Payment Systems] According to CoinDesk, the Society for Worldwide Interbank Financial Telecommunication (SWIFT) currently routes approximately $5 trillion daily for cross-border settlements, covering about 11,500 institutions across 200 countries and regions. However, the cost per transaction remains around 1% to 4%, and settlement typically takes 1 to 5 business days. Facing competition from stablecoins, tokenized deposits, and blockchain payments in terms of speed and cost, SWIFT launched a blockchain ledger last month. HSBC and Standard Chartered subsequently completed the first real-time transaction through this system, reducing settlement time to mere seconds. BNY estimates that the stablecoin and tokenized cash market could reach $3.7 trillion by 2030, while Citi forecasts that the tokenized securities market will grow to $5.5 trillion during the same period.