Conduit’s system integrates blockchain-based stablecoins with traditional financial rails like SWIFT, ACH, FedWire and local payment networks, supporting seamless transfers in both USD and local currencies

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Conduit’s cross-border payment network seamlessly integrates stablecoins, USD and local currencies," the company said in its statement, adding that its platform "enables nearly instant global transfers across multiple payment rails, including USD-denominated payment networks (SWIFT, ACH, FedWire) and local payment systems throughout Europe, the UK, and countries such as China, Hong Kong, Mexico, Brazil, Colombia, Nigeria, and Kenya, among others.

Conduit markets its payment system as an alternative to the messaging network SWIFT, or Society for Worldwide Interbank Financial Telecommunications.