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

2022.05.27 15:21

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

Mastercard (NYSE:MA) 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.

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