SWIFT, the world’s largest international network for financial messages, announced that it has started to develop a blockchain-based shared digital principal, along with a group of over 30 banks from 16 countries, with the first use case focused on real time, 24/7 cross -border payments.
The shared book will provide a secure, real -time log of transactions between financial institutions by registering, sequence and validate transactions on blockchain, with rules enforced through Smart contracts.
“At Swift, our mission has always been to constantly renew and raise the cross-border payment experience. Today we take a crucial step forward: adding a blockchain-based shared general ledger to our technology infrastructure,” pronounced network in a decisive press release. “The leader will be built for interoperability, both with existing and new networks, while maintaining confidence, resilience and compliance synonymously with quickly and critically for the secure function of global financing.”
Swift, which stands for Society for Worldwide Interbank Financial Telecommunication, is a member -owned cooperative consisting of over 11,500 global financial institutions and banks in more than 200 countries. It provides an international message network that informs users when payments has been sent and received.
It is the largest such platform and, in accordance with To fast, the entire world’s gross domestic product (GDP) passes over its network approximately every three days “to keep the supply chains moving and economies turn.”
Swift’s new landmark initiative was announced at SIBOS 2025 in Frankfurt, where the organization says it will “expand Swift’s reliable platform to a digital environment, unlock the potential for immediate, always-on transactions on a global scale and speed up the industry’s transition to digital funding over 200 countries and territory over 200 countries and territories.”
The project will start with a conceptual prototype, designed in collaboration with Blockchain Technology Company Consensys. Swift said that the platform will be directed to banks and financial institutions that “want to deliver faster, more transparent payments as they prepare for the digital future.”
Swift wanted to keep up with technical change, especially at one Boom time for the blockchain sector. It cited several specific benefits with its proposed divided digital general ledger, including real -time visibility and predictability for payments, automated compliance through smart contracts, interoperability with traditional rails and growth networks and the ability to move regulated tokenized value Safe.
“I am very pleased to announce that we will add a blockchain-based book to our technology infrastructure to enable a reliable movement of tokenized value over the digital ecosystem,” said CEO of Swift, Javier Pérez-Tasso on Monday. “Infrastructure strength comes through layered innovation. It is not or, it is definitely both.”
Pérez-Tasso also acknowledged that the announcement of a Stalwart of Traditional economy . In the regulated systems of the future, we believe they can.
He added that “combining a shared general ledger with Swift’s existing messages, APIs and ISO 20022 creates an even more powerful construction that can embed risks, controls and compliance requirements from the end to transaction flows while it allows for real time 24/7 Interbank-cross-border payments with the same confidence, security, security, reserve, resource, resource, security, resource.
The initiative is developed in steps, with over 30 leading banks that cooperate with SWIFT to “define functionality, governance and future development phases”, start with the prototype. However, Swift did not give any specific dates and said that timelines will be guided by development and test phases.
“We are looking forward to working with Swift to explore digital capital funds,” said Ather Williams III, head of global payments, liquidity and wholesale digital at Wells Fargo (Nasdaq: WFC). “This initiative reflects our commitment to adapting to global legislative standards while pushing innovation over the financial ecosystem.”
At the same time, Eva Rubio, head of Global Transaction Bank at BBVA Corporate and Investment Banking, described Swift’s digital Ledger initiative as “a gaming exchange for cross-border payments.”
She added that “the ability to solve regulated value in real time – with reliability and security that the industry expects from Swift – will unlock new efficiency and opportunities for our customers.”
In February 2022, after Russia’s illegal invasion of Ukraine, Swift Large Russian banks blocked—Including Bank Otcritie, Novikombank, Promsvyazbank, Rossiya Bank, Sovcombank, Veb and VTB – from its network. This was one of the toughest international and economic sanctions placed in the country, now the most sanctioned in the world.
Was removed from rapid delayed payments to Russia for its oil and gas exports, prevented Russian banks and forced the country to Explore alternative options for transfer of moneyEmphasizes the importance of the Swift network.
The Message of Message said that the shared general book in the future can be seen as a natural extension of its live in the future digital asset attempt and “ongoing innovation.” In this regard, Swift also pointed to its Development of client solutions for interoperability Over private and public networks, which were launched in August.
“Together, these efforts emphasize our commitment to drive the future of the payment – faster, more reliable and fully compliant – on a global scale,” Swift said.
See: New Age of Payment Solutions
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