Swift has announced plans to integrate a blockchain-based shared ledger into its technology infrastructure, aiming to enable instant and optimal cross-border transactions.
Swift is already collaborating with a group of 30 financial institutions globally to design and build the ledger, with a primary focus on a first use case: real-time, 24/7 cross-border payments. The development begins with a prototype developed by Consensys. In phase one, Swift will work to complete the prototype and define its future phases of work.
The new system will extend Swift’s role in financial communication into a digital environment. While the network will provide the infrastructure, the definition of token types, such as deposits, central bank digital currencies (CBDCs), or securities, remains the responsibility of commercial and central banks. Swift will coordinate with them to ensure compatibility and effective use of the platform.
The ledger will record, sequence, and validate transactions, while smart contracts will help optimise rules and processes. Designed for interoperability, it will connect with both existing and emerging networks, while maintaining the core principles of trust, resilience, and compliance that are fundamental to Swift, as well as security in global finance.
With its network of 11.500 institutions worldwide, Swift has served as a foundation of international payments. The organisation has previously run proofs of concept with tokenisation and cross-chain interoperability. However, the new feature represents an early-stage integration of blockchain technology into its infrastructure, starting with a prototype.
Financial institutions from 16 countries are currently providing input on the ledger’s design, with further collaboration planned across Swift’s global community. The partnership includes financial institutions such as Bank of America, JPMorgan Chase, Deutsche Bank, BNP Paribas, Lloyds Bank, and others. The complete list of participating banks is available on Swift’s official website.
Swift to optimise cross-border payments
In September 2025, Swift planned to implement new rules for retail cross-border payments on its network as part of a new strategy to optimise speed, security, and predictability.
