Swift Launches Blockchain Ledger Pilot With 17 Global Banks
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Swift has launched a blockchain-based shared ledger pilot for tokenized deposits with 17 major banks across six continents to enable 24/7 cross-border payments and speed up settlement. Participants include Citi, HSBC, UBS, BNP Paribas, Standard Chartered, Wells Fargo, BNY, DBS and MUFG, signaling a move to bridge traditional banking with digital asset infrastructure without replacing existing settlement systems.
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Swift has taken another step toward modernizing global payments by introducing a blockchain-based shared ledger for tokenized deposits. The new platform will support a pilot involving 17 major banks across six continents.
The initiative aims to improve cross-border transactions while preserving the trusted framework that financial institutions already use. Additionally, the project highlights Swift’s strategy to bridge traditional banking with digital asset infrastructure without replacing existing settlement systems.
Global Banks Test Shared Ledger
According to the press release, major lenders, including Citi, HSBC, UBS, BNP Paribas, Standard Chartered, Wells Fargo, BNY, DBS, and MUFG Bank, will participate in the pilot. The shared ledger allows banks to move tokenized deposits around the clock, including weekends and overnight.
Consequently, institutions can impr…
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