Swift, the global banking network, has launched a blockchain-based shared ledger to support 24/7 cross-border payments. Seventeen major international banks are preparing to test live transactions. This initiative lets banks move tokenized deposits outside regular banking hours while still settling payments through current financial systems. Participants include UBS, BNP Paribas, Citi, HSBC, Wells Fargo, BNY, and other top financial institutions.
Swift announced that the new ledger is ready for its first phase of deployment at banks on six continents. The platform allows financial institutions to process customer transactions overnight and on weekends, making payments more available without replacing existing settlement systems.
The banking cooperative first shared news of the project in October as part of its larger plan to connect traditional finance with digital assets. Instead of using stablecoins from private companies, the platform uses tokenized deposits, which are digital versions of commercial bank money issued directly by regulated banks.
Thierry Chilosi, Swift’s Chief Business Officer, said the shared ledger brings the trust and stability of the current banking system into the expanding world of digital money. He explained that the platform gives banks a secure way to join tokenized finance while staying compliant with regulations.
This launch happens as banks, fintech firms, and crypto companies compete to improve international payments. While stablecoins already allow 24/7 settlements, many banks prefer tokenized deposits since they work within regulated banking systems and follow current compliance rules.
Swift said about 75% of payments on its network already reach beneficiary banks within ten minutes, and many are completed in seconds. The new blockchain ledger builds on this progress by letting digital money move at all times while keeping final settlement through traditional payment systems.
The project shows the financial industry’s increasing interest in tokenization. As digital assets become more common, banks want infrastructure that offers blockchain efficiency along with the security and oversight of traditional finance.
If the pilot succeeds, Swift’s shared ledger could become an important part of the next generation of global banking. It would let regulated institutions offer faster, always-available payment services without making major changes to the current financial system.
Implemented in 9 months. Global from day one.
Swift’s blockchain-based ledger is ready for use, with ANZ, BNP Paribas, BNY, Citi, DBS Bank, First Abu Dhabi Bank (FAB), FirstRand, HSBC, Itaú Unibanco, Lloyds Banking Group, Mashreq, MUFG, OCBC, Standard Chartered, UBS, UOB and… pic.twitter.com/kOg9DumptG
— Swift (@swiftcommunity) July 9, 2026
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