Global financial giant Swift has revealed plans to integrate a blockchain-based shared ledger into its infrastructure, marking a major shift toward digital transformation. The first phase will focus on real-time, 24/7 cross-border payments, powered by smart contracts to securely validate and record tokenized transactions. The system is designed to ensure interoperability with both traditional and emerging financial networks while meeting regulatory standards.

Over 30 leading banks, including Santander, Bank of America, BNP Paribas, and HSBC, are collaborating with Swift to provide feedback and support the rollout. The project builds on a conceptual prototype developed with blockchain firm Consensys, with reports suggesting Swift is testing Ethereum Layer 2 Linea as part of its transition on-chain. CEO Javier Pérez-Tasso said the move aims to enhance the payments experience while keeping Swift at the center of global finance.

Client-focused solutions will also be introduced to enable seamless movement across private and public blockchains. Serving more than 11,500 financial institutions, Swift continues to accelerate its blockchain adoption after initial digital asset transaction trials announced for 2025.

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