SWIFT Launches Blockchain Ledger for Tokenized Bank Deposits
Vexoda Newsroom
SWIFT, the world's largest financial messaging network, has launched a blockchain ledger to facilitate cross-border payments using tokenized bank deposits. This pilot involves 17 major banks and could
SWIFT recently unveiled its new blockchain-based ledger designed for a tokenized deposit pilot involving 17 leading financial institutions, including HSBC, Citi, BNP Paribas, UBS, ANZ, DBS and Standard Chartered. This initiative aims to enhance cross-border payment speeds while maintaining compliance standards.
The launch of this platform comes as part of SWIFT's broader strategy to integrate tokenized deposits into regulated financial infrastructure. The new ledger will enable 24/7 transactions, including overnight payments, which is a significant improvement over traditional banking hours.
SWIFT’s interbank messaging network connects more than 11,500 banks and financial institutions across over 200 countries. Currently, 75% of payments on SWIFT's network reach beneficiary banks within just ten minutes, often in seconds. This new pilot is seen as a key milestone for digital assets.
Thierry Chilosi, Chief Business Officer at SWIFT, emphasized the importance of this development: 'It allows tokenized value to move across borders with the velocity and flexibility modern commerce expects, while maintaining high levels of resiliency, security, and compliance.'
This pilot is part of a broader trend in financial institutions exploring blockchain technology. In March 2026, the New York Stock Exchange partnered with Securitize for tokenized stock infrastructure, and ICE announced plans for a tokenized securities venue designed for instant settlement.
While this development may not directly impact retail traders, it could have significant implications for institutional investors and cross-border transactions in the long term. Traders should monitor SWIFT’s future expansions to see how these innovations might affect broader market dynamics.
The launch of this blockchain ledger marks a step towards more seamless and efficient global financial operations, potentially revolutionizing how banks handle international payments.
Source: Cointelegraph. Summarized and rewritten by the Vexoda Newsroom. This is market news, not financial advice.