SWIFT blockchain ledger is set to go live soon, with 17 institutions piloting tokenized deposit cross-border transactions

Mars Finance news: SWIFT, the Society for Worldwide Interbank Financial Telecommunication, announced that its blockchain-based distributed ledger is ready to enter the initial application stage. Seventeen global financial institutions will serve as early adopters to test real-time transactions based on tokenised deposits. SWIFT said that since 2025 Sibos announced its plan to add blockchain ledgers to its technology stack, it completed the transition from conceptual design to initial deployment in just 9 months. The project aims to help financial institutions explore the use of digital assets and new forms of digital value on top of existing trusted, secure, global infrastructure. The first use case focuses on improving cross-border payment efficiency. As businesses and consumers increasingly demand financial services around the clock, traditional payment systems are constrained by time zones and business hours. The SWIFT ledger will provide a secure coordination layer for participating banks, enabling them to transfer funds around the clock based on tokenised deposits issued from their own ledgers, before final settlement is completed through existing clearing systems. SWIFT said it chose tokenised deposits as the first pilot direction because it represents a regulated digital form of commercial bank money, which can improve customer experience and liquidity management efficiency without changing existing compliance, credit risk, and control frameworks.
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