Swift blockchain ledger ready for initial use, with 17 global banks to pilot tokenized cross-border payments

Foresight News reported that Swift has announced its blockchain ledger is ready for initial use, with 17 banks from six continents set to pilot cross-border payments using tokenized deposits on a 24/7 basis. Pilot banks include ANZ, BNP Paribas, BNY Mellon, Citibank, DBS Bank, HSBC, Standard Chartered, UBS, Wells Fargo, and others. Swift stated that the ledger went from concept to launch in just nine months and will provide participating banks with a secure coordination layer for tokenized deposits, enabling real-time or out-of-hours fund transfers before final settlement in existing systems. This aims to enhance client experience and global liquidity efficiency while maintaining current compliance, credit, and risk control standards. In the future, the ledger will further expand its capabilities to support infrastructure for innovations such as programmable money and agency business.