Definition ∞ A payment network is an infrastructure that facilitates the transfer of funds between parties, enabling financial transactions. These networks can range from traditional banking systems to modern digital payment processors and blockchain-based protocols. Their primary function is to ensure the secure and efficient movement of value.
Context ∞ The current evolution of payment networks is significantly shaped by the increasing integration of digital assets and distributed ledger technology. Discussions often revolve around the potential for blockchain to offer faster, cheaper, and more transparent cross-border payment solutions compared to legacy systems. The development of interoperable networks that can handle both traditional currencies and digital assets is a key area of focus.
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