Swift to Develop Blockchain Ledger for Global Cross-Border Payments

Swift has announced that it is developing a shared blockchain-based ledger with Consensys and more than 30 global financial institutions for integration into its payments infrastructure. The initiative, unveiled at Sibos 2025 in Frankfurt, aims to enable 24/7 real-time cross-border transactions at scale across more than 200 countries.

What’s the Scoop?

• Shared Ledger Initiative: Swift is developing a prototype ledger with Consensys that will log, validate, and sequence regulated tokenized value across institutions, starting with cross-border payments.
• Global Collaboration: Over 30 banks—including Citi, JPMorgan, HSBC, Deutsche Bank, Bank of America, and Santander—are contributing feedback on the design and pilot.
• Always-On Payments: The goal is to bring instant, 24/7 settlement for international transactions, moving beyond today’s limited banking hours and delayed clearing processes.
• Smart Contract Rules: The ledger will use programmable rules to enforce compliance, sequence payments, and ensure interoperability with both fiat and blockchain networks.
• Parallel Track Strategy: Swift says it will continue upgrading its existing fiat rails while building out future digital rails to give the industry maximum flexibility.