SWIFT Joins Forces With Consensys to Launch Revolutionary Blockchain Ledger

Global banking giant SWIFT shakes up traditional finance by partnering with blockchain powerhouse Consensys to build a next-generation distributed ledger.

The New Financial Backbone

This landmark collaboration merges SWIFT's massive banking network with Consensys' Ethereum expertise—creating a hybrid system that could finally bridge traditional finance with decentralized technology. The partnership signals institutional acceptance of blockchain's potential to transform cross-border settlements.

Cutting Through Banking Red Tape

SWIFT's move demonstrates traditional finance finally acknowledging what crypto advocates have claimed for years: blockchain eliminates intermediaries, reduces settlement times from days to minutes, and slashes transaction costs. Banks that once dismissed cryptocurrency now race to adopt its underlying technology.

Financial institutions face their 'innovator's dilemma'—embrace disruption or risk becoming obsolete. Because when the establishment starts building on blockchain, you know the revolution isn't coming—it's already here. And Wall Street's playing catch-up.

How the ledger will work

The ledger will function as a secure, real-time log of transactions between financial institutions. It will validate and order payments, and use smart contracts to apply rules automatically. 

It is made to operate both with current payment systems and new digital networks, following the compliance standards of global finance. The announcement also noted that the types of tokens exchanged on the ledger will be determined by commercial and central banks, with SWIFT supporting their integration into the infrastructure.

SWIFT’s CEO, Javier Pérez-Tasso, said the project is part of a wider effort to modernize financial infrastructure. “We provide powerful and effective rails today and are moving at a rapid pace with our community to create the infrastructure stack of the future,” he said.

The shared ledger builds on SWIFT’s earlier experiments with digital assets and blockchain pilots. Financial institutions from 16 countries will be providing input, and SWIFT intends to implement the system after developing the prototype and fully testing it. 

The development comes amid increasing interest among banks in applying blockchain to simplify payments, enhance efficiency, and prepare for a future where digital finance plays a central role.

Also Read: SWIFT to Test On-Chain System on Linea Blockchain