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Swift will integrate a blockchain-based shared ledger into its payments infrastructure.
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The project is based on a prototype developed with Consensys.
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Over 30 global banks, including HSBC and Bank of America, are participating.
Shared Ledger for Cross-Border Payments
Swift announced plans to add a blockchain-based ledger to its infrastructure, starting with a focus on real-time, 24/7 cross-border transactions. The ledger, developed with Consensys, is designed to record and validate tokenized transactions using smart contracts while maintaining regulatory compliance.
Industry Collaboration
More than 30 global banks will provide input and assist with the rollout, including Santander, BNP Paribas, Bank of America, and HSBC. This collaboration ensures the ledger addresses both institutional needs and cross-network interoperability.
Early Blockchain Adoption by Swift
Swift has previously tested digital asset settlement but this marks a more concrete step toward blockchain integration. Reports suggest the system may use Consensys’ Ethereum Layer 2 Linea for on-chain migration. At the Sibos conference, CEO Javier Pérez-Tasso emphasized that the project is part of Swift’s broader strategy to remain at the center of the digital finance transition.
