Swift blockchain ledger ready for bank payment pilots

July 9 (Crypto-News.Net) – The Swift blockchain ledger is ready for initial use, the payments network said, with 17 banks from six continents preparing tokenized deposit payment pilots.

Key Takeaways

• Seventeen banks are preparing tokenized deposit payment pilots.
• The project moved from concept to activation in nine months, according to the payments network.
• The ledger is being added to Swift’s existing global platform.

Swift’s official announcement said the banks are preparing to pilot live transactions using tokenized deposits. The pilots are intended to support 24/7 payment availability and better liquidity efficiency.

An official X post said the blockchain-based ledger was “implemented in 9 months” and is “global from day one.”

Implemented in 9 months. Global from day one.

Swift's blockchain-based ledger is ready for use, with ANZ, BNP Paribas, BNY, Citi, DBS Bank, First Abu Dhabi Bank (FAB), FirstRand, HSBC, Itaú Unibanco, Lloyds Banking Group, Mashreq, MUFG, OCBC, Standard Chartered, UBS, UOB and… pic.twitter.com/kOg9DumptG

— Swift (@swiftcommunity) July 9, 2026

Banks prepare tokenized deposit pilots

The 17 banks preparing pilots come from six continents, according to the announcement. The X post named banks including ANZ, BNP Paribas, BNY, Citi, DBS Bank, First Abu Dhabi Bank, FirstRand, HSBC, Itaú Unibanco, Lloyds Banking Group, Mashreq, MUFG, OCBC, Standard Chartered, UBS and UOB.

The announcement did not say that all participating banks have begun full production transactions. It described the ledger as ready for initial use and said banks are preparing pilots.

That leaves the project at initial activation, not a completed industrywide migration to blockchain settlement.

Ledger adds to existing network

The blockchain-based ledger is being added to Swift’s global platform. The system is designed for tokenized deposits, a form of bank-issued digital value used inside regulated banking arrangements.

The verified source material did not describe the ledger as a cryptocurrency network. It also did not say the pilot removes the need for existing banking systems.

The statement places the project inside existing financial messaging and payments infrastructure. It described the work as part of trusted global infrastructure for cross-border payments.

Reporting by Zoran Spirkovski, Editing by Zoran Spirkovski

Sources

• Swift official announcement – ledger readiness, 17-bank pilot claim, tokenized deposits, 24/7 payment availability and liquidity-efficiency claims.
• Swift official X post – nine-month implementation statement, ledger ready-for-use statement and visible bank names.