Price and EFT Market Share
There are 3 Primary Industry Funds Transfer Systems Operating within the US today.
Electronic Funds Transfers primarily go through banks, although private money remitters like Moneygram play a large part as well.
They provide 3rd party trust for electronic funds transfers between banks. Precisely what permissionless blockchains are doing without a 3rd party trust.
The nodes act as validators for transactions, inceasing speed and efficiency for settlement.
SWIFT
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) provides secure electronic financial messaging services to financial institutions.
10 Million transactions per day transfer of nearly $5 trillion worldwide each day
CHIPS
Clearing House Interbank Payments System (CHIPS)
280,000 transactions per day with a total monetary value of $1.4 trillion
FEDWIRE
Federal Reserve Banks own and operate the Fedwire funds transfer system that serves as the primary domestic electronic funds transfer system in the United States
528,000 transactions valued at $2.1 trillion daily
Today's Crypto Market Cap is $2.7T over 14K crypto tokens or "transfer systems".
Today's traditional EFT market settles $8.5T daily over 3 primary funds transfer systems.
