Swift Launches Blockchain Ledger Pilot With 17 Global Banks

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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