SWIFT Embraces Blockchain for Cross-Border Payments

• The Initiative: 17 major global banks (including Citi, HSBC, UBS, and BNP Paribas) are preparing to pilot live cross-border transactions using tokenized deposits on Swift’s new ledger

• The Benefits: The system aims to enable 24/7 payment availability (including nights and weekends), faster settlement times, and improved global liquidity efficiency for banks and their clients.

• The Timeline: Swift developed this ledger from concept to activation in just nine months, collaborating closely with international financial institutions.

• The Goal: To combine the speed and flexibility of modern digital/programmable money with the security, compliance, and resiliency of traditional global finance.

SWIFT has announced that its new blockchain-based ledger is ready for initial use, marking a major step toward integrating digital assets into the regulated global financial system.SWIFT

1. BRIDGING TRADFI AND WEB3

This announcement represents a significant convergence of Traditional Finance (TradFi) and blockchain technology. Rather than relying on public blockchains or unregulated cryptocurrencies, these banks are using **tokenized deposits**—digital representations of fiat currency held at a bank. This allows them to harness the benefits of distributed ledger technology (DLT) without sacrificing regulatory compliance, credit standards, or risk management.

2. SWIFT’S STRATEGIC POSITIONING

Historically, Swift has functioned primarily as a secure messaging network for financial institutions, not a settlement layer. With the rise of alternative cross-border payment solutions (like Ripple, stablecoins, and Central Bank Digital Currencies), Swift faced a risk of disruption. By launching its own orchestration layer for tokenized assets, Swift is proactively defending its dominance, ensuring it remains the trusted infrastructure for the next generation of digital finance.

3. INSTITUTIONAL BUY-IN IS MASSIVE

The most striking element of this release is the roster of participating banks. Having 17 heavyweights from six continents—such as BNY, Standard Chartered, DBS, and ANZ—participating in the pilot signals immense industry consensus. This isn’t a fringe experiment; it is a coordinated push by the world’s largest financial institutions to standardize how tokenized value moves globally.

4. SOLVING THE “TRAPPED LIQUIDITY” PROBLEM

One of the biggest pain points in current cross-border payments is that transactions are limited by traditional banking hours, time zones, and the need to pre-fund accounts (Nostro/Vostro). By enabling 24/7, near-instant settlement on a shared ledger, banks can free up billions in trapped capital, allowing corporate clients to manage their global cash flows far more efficiently.

5. FUTURE IMPLICATIONS

Swift hints at this infrastructure supporting “programmable money and agentic commerce.” This means future payments could be automated via smart contracts (e.g., funds are only released when a shipping container reaches a specific port). If successful, this pilot will likely lay the groundwork for a highly automated, interoperable global financial system.

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〈SWIFT Embraces Blockchain for Cross-Border Payments〉這篇文章最早發佈於《CoinRank》。