The post Swift declares blockchain ledger ready in 17-bank, cross-continent pilot launch appeared on BitcoinEthereumNews.com.
Swift announced in a July 9 statement that its blockchain-based ledger is open for business, with 17 lenders already lined up to start using it to send cross-border payments across six continents using tokenized deposits. Swift is big news from a network that already processes the equivalent of global GDP every 2 to 3 days across more than 200 markets. Now, the infrastructure is in place for banks and corporate treasuries to settle international transfers round the clock. Today’s announcement lays the groundwork for the first public demonstration of a ledger that Swift first showcased at its Sibos conference in September 2025. What does Swift’s blockchain ledger do? The blockchain-based ledger that Swift introduced Thursday is not a payments platform in the traditional sense. The ledger, which runs on Hyperledger Besu, an open-source, Ethereum-compatible fram
The post SWIFT’s Blockchain Ledger Goes Live, but Old Bottlenecks Persist appeared on BitcoinEthereumNews.com.
SWIFT’s blockchain-based shared ledger has moved from testing to live deployment. Seventeen major banks are now preparing to process real transactions using tokenized deposits, though the system still leans on SWIFT’s older infrastructure to finish each transfer. Citi, HSBC, UBS, and 14 other banks across six continents will run pilot transfers. Their tokenized transfers speed up liquidity movement, but final settlement still passes through existing correspondent banking rails afterward. Banks Prepare Tokenized Deposit Pilots The shared ledger works as an orchestration layer, not a settlement replacement. Banks issue tokenized deposits on their own systems. They use SWIFT’s infrastructure to move funds for customers around the clock, including overnight and weekends. However, the underlying money only becomes final once it clears through SWIFT’s traditional messaging network.
The post Swift rolls out new blockchain ledger to bring 24/7 banking to 17 global giants appeared on BitcoinEthereumNews.com.
A roster of 17 banks are preparing to begin testing live transactions on Swift’s blockchain-based ledger, a step toward round-the-clock cross-border payments using tokenized deposits. Swift said the ledger is ready for initial use by banks across six continents in an announcement on Thursday. Its aim is to allow banks to move funds for customers overnight and on weekends, before final settlement through existing payment systems. The banks taking part include UBS, BNP Paribas, BNY, Citi, HSBC, and Wells Fargo. Swift, the bank-owned messaging network used by more than 11,500 financial institutions, announced the development of this shared ledger platform in October. It then said it would allow banks to settle transactions involving stablecoins and tokenized assets across multiple blockchains, working alongside current payment rails, not replacing them. Swift, said
The post Swift Launches Blockchain Ledger for Cross-Border Payment Pilot appeared on BitcoinEthereumNews.com.
The post Swift Launches Blockchain Ledger for Cross-Border Payment Pilot appeared first on Coinpedia Fintech News Swift said its blockchain-based shared ledger is ready for initial use, enabling 24/7 cross-border payments using tokenized deposits while keeping existing credit and risk standards. Seventeen global banks are preparing to pilot live transactions on the platform. The project aims to improve payment speed, liquidity management, and cash flow visibility without replacing Swift’s existing network. … Source: https://coinpedia.org/crypto-live-news/swift-launches-blockchain-ledger-for-cross-border-payment-pilot/
