Swift to Build Blockchain-Based Ledger for Real-Time Cross-Border Payments

Swift is expanding its global payments infrastructure with a blockchain-based shared ledger, aiming to revolutionize cross-border transactions. The Brussels-based organization has partnered with over 30 financial institutions across 16 countries to develop the system, initially targeting real-time 24/7 settlements.

The initiative builds on Swift's two-year digital asset interoperability trials, bridging distributed ledger technology with traditional fiat rails. A conceptual prototype is underway in collaboration with Consensys, with phase one completion expected imminently.

The ledger will extend Swift's messaging capabilities into digital asset ecosystems, enabling banks to MOVE regulated tokenized value. Smart contracts will enforce transaction rules while maintaining interoperability with both legacy and emerging networks.