Remittix Expands PayFi Testing Amid Chainlink-Swift Payment System Efforts
Remittix is expanding its PayFi testing by giving 1,000 existing RTX holders access to test crypto-to-bank transfers. The initial options are EUR and USD. Chainlink and Swift have demonstrated how tokenized assets can connect with existing payment systems.
The connection between digital and traditional finance is a growing area of interest. Swift and Chainlink explored a bridge between tokenized assets and established payments in a pilot project with UBS. Swift is also developing a separate bank-focused ledger initiative, involving 17 banks that are preparing to pilot live tokenized-deposit transactions.
Remittix's PayFi is designed to connect crypto-funded fiat payouts with bank accounts. The RTX holders given access to the testing phase can navigate the process before broader availability. Remittix has reported more than $32 million raised toward its $36 million cap and announced a token launch date of November 24.