Global Settlement Network

Definition ∞ A Global Settlement Network is an infrastructure designed to facilitate the rapid and final transfer of value across international borders. These networks aim to streamline cross-currency transactions and reduce settlement times, often leveraging distributed ledger technology. They seek to improve efficiency and lower costs compared to traditional correspondent banking systems.
Context ∞ The primary discussion surrounding Global Settlement Networks in the digital asset domain involves their potential to transform international payments and interbank transfers. Debates often address interoperability between different blockchain solutions and the regulatory frameworks needed to govern these systems securely. Observing pilot programs and cross-jurisdictional initiatives will demonstrate their practical application and broader adoption prospects.