Swift partners with over 30 global banks and Consensys to build a shared digital ledger using smart contracts, aiming for real-time, always-on payments and enhanced interoperability between fiat and tokenized assets.
Highlights:
Major Collaboration: Swift is working with more than 30 financial institutions (including JP Morgan Chase, HSBC, Deutsche Bank, and Bank of America) and blockchain firm Consensys to build a new shared digital ledger.
Real-Time & Always On: The proposed ledger aims to enable cross-border payments that are processed in real time, 24/7, overcoming limitations of legacy payment systems.
Smart Contracts & Tokenization: The ledger will support smart contract validation, transaction sequencing, and the movement of regulated tokenized value, enhancing transparency, speed and connectivity between fiat rails and digital or tokenized assets.
Summary :
SWIFT is evolving from being just a messaging system for banks into developing a blockchain-based shared ledger designed to facilitate instant and always-on cross-border payments. Announced at Sibos 2025, the initiative involves over 30 major global banks collaborating with Consensys to prototype and then build a ledger that can record, validate, and sequence transactions using smart contracts.
The ledger is intended to operate continuously (24/7), overcoming delays in current cross-border systems that are limited by business hours and conventional processing windows. It aims to support both fiat and tokenized value transfers, allowing regulated digital assets to interoperate with existing payment rails. Swift intends to ensure the system works with existing infrastructure and adheres to regulatory norms, while pushing for better speed, transparency, and reliability in international transactions.
