SWIFT, the global financial messaging network, has unveiled a landmark collaboration with Consensys, a leading Ethereum blockchain software firm, and a consortium of over 30 major financial institutions, including JPMorgan, HSBC, Citi, and others. This partnership will integrate a blockchain-based shared ledger into SWIFT’s core infrastructure, marking a pivotal step in merging traditional finance with the digital asset ecosystem.

The initiative focuses on enabling real-time, 24/7 cross-border payments as its initial use case, while also facilitating seamless transfers of regulated tokenized assets, such as stablecoins and other digital instruments. By leveraging a conceptual prototype developed by Consensys, built on its Ethereum-based Linea network, SWIFT aims to streamline transaction validation and settlement using smart contracts, ensuring interoperability across public and private blockchain networks.

This strategic move positions SWIFT as a neutral leader in the regulated adoption of blockchain technology, enhancing the efficiency of global financial systems and countering the rise of blockchain-native payment solutions like stablecoins. The shared ledger builds on SWIFT’s prior blockchain experiments, including its work with Chainlink and UBS on tokenized funds, and aligns with broader industry trends toward integrating distributed ledger technology (DLT) to modernize financial infrastructure.

As SWIFT CEO Javier Pérez-Tasso noted, “This ledger concept paves the way for financial institutions to deliver a next-level payments experience, maximizing infrastructure choice while unlocking the benefits of digital finance.”

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https://www.SWIFT.com/news-events/press-releases/swift-add-blockchain-based-ledger-its-infrastructure-stack-groundbreaking-move-accelerate-and-scale-benefits-digital-finance