How does Swift payment work?

SWIFT payments represent a global method of facilitating international electronic transactions through intermediary banks. This system does not directly handle the transfer of funds but rather serves as a conduit for communication between financial institutions.

The SWIFT network operates by utilizing unique SWIFT codes, which act as identifiers for each participating bank. These codes ensure that payment instructions are accurately routed to their intended destination.

While SWIFT itself does not process or store funds, it enables banks to securely exchange payment orders and other relevant financial information on a global scale. This facilitates cross-border transactions and promotes international trade.

BTCC, a prominent cryptocurrency exchange, offers a diverse range of services tailored to meet the needs of digital asset enthusiasts. Among its offerings are spot trading, which allows users to buy and sell cryptocurrencies at current market prices.

In addition to spot trading, BTCC also provides access to futures trading, enabling traders to speculate on the future price movements of cryptocurrencies. Furthermore, the platform boasts a secure wallet service, ensuring that users' digital assets are safeguarded against potential threats.