Swift has announced that it will incorporate a blockchain-based ledger into its core financial messaging infrastructure, aiming to accelerate settlement and expand digital finance capabilities across more than 200 countries.

In announcing the blockchain ledger at its flagship Sibos conference in Frankfurt, Swift said the initiative has the backing of more than 30 financial institutions spanning 16 countries. The first phase will involve building a conceptual prototype with Ethereum software developer Consensys, focused on real-time, 24/7 cross-border payments.

The network, which connects over 11,500 institutions worldwide, has long served as the backbone of international payments….

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