An IBAN is used to identify an individual bank account involved in an international transaction while a SWIFT code is used to identify a specific bank during an international transaction.

Instead, it’s betting on a SWIFT. Citibank is not following in the footsteps of JP Morgan with the creation of its own cryptocurrency, believing there are better ways of making improvements to ...

Each participant on the platform is assigned a unique eight-digit SWIFT code or a bank identification code (BIC). If a person, say, in New York with a Citibank account, wants to send money to ...