Bank of America and J.P. Morgan have gone live with Swift's new international retail transfer initiative, giving consumers and businesses visibility on fees and foreign-exchange rates before they send money abroad. Swift says more than 60 banks in 25 countries are backing the framework, which can deliver the full transferred amount and, in supported markets, settle within minutes across initial payment support covering Australia, Brazil, China, India, South Africa, South Korea, Spain and Turkey. The rollout widens competition in cross-border payments as banks, blockchain firms and stablecoin issuers pursue faster, more transparent settlement.