Swift rolls out new blockchain ledger to bring 24/7 banking to 17 global giants
HSBC, UBS, Wells Fargo and Citi are among the 17 banks now preparing to pilot live transactions using tokenized digital assets on Swift’s new blockchain payments platform.
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Summary
- Swift is planning live tests of a blockchain-based shared ledger with 17 major banks to enable round-the-clock cross-border payments using tokenized deposits.
- The new system is designed to let banks move customer funds overnight and on weekends, with final settlement still occurring through existing payment rails.
- Swift says the ledger will support regulated digital money and tokenized assets across multiple blockchains, extending traditional banking controls to faster, always-on payments.
