Written by Zoltan Vardaistaff writerReviewed by Yohan Yunstaff writer
Written by Zoltan Vardaistaff writer
Reviewed by Yohan Yunstaff writer
SWIFT launches blockchain ledger with 17-bank tokenized deposit pilot
Latest NewsPublishedJul 9, 2026
SWIFT introduced its new blockchain ledger that will host a tokenized bank deposit pilot for 17 major banks seeking faster cross-border payments.
The world’s largest financial messaging network, SWIFT, stated its blockchain-based ledger is ready for initial utilize after nine months of development.
Seventeen major banks, including HSBC, Citi, BNP Paribas, UBS, ANZ, DBS and Standard Chartered, are preparing to pilot cross-border payments using tokenized bank deposits on the new ledger, SWIFT revealed on Thursday.
The ledger will enable participating banks to support 24/7 cross-border payments, including overnight and weekend transactions, while maintaining existing compliance, credit, risk and control standards embedded in current payment processing.
The launch marks another step in banks’ efforts to utilize tokenized deposits within regulated financial infrastructure while extending payment availability beyond traditional banking hours.
SWIFT stated it plans to expand the ledger’s functionality and availability after the initial controlled go-live phase.
SWIFT’s interbank messaging network connects over 11,500 banks and financial institutions across more than 200 countries and territories. SWIFT stated 75% of payments on its existing network already reach beneficiary banks within 10 minutes, often in seconds.
Related: Crypto nears its ‘Netscape moment’ as industry approaches inflection point
A “key milestone” for digital assets, says SWIFT CBO
The addition to SWIFT’s “resilient global platform marks a key milestone for regulated digital assets” that could lay the foundation for future innovation in areas including programmable money and agentic commerce, stated Thierry Chilosi, chief business officer at SWIFT.
“It allows tokenised value to move across borders with the velocity and flexibility modern commerce anticipates, while maintaining the same high levels of resiliency, security, and compliance global finance requires,” he added.
The development comes a month after a consortium of major banks, including JPMorgan Chase, Bank of America, Citibank, Barclays, BNY and Wells Fargo, revealed plans to launch a tokenized deposit network in the first half of 2027. The Clearing House will operate the network and connect traditional payment rails with digital asset infrastructure for 24/7 settlement.
On March 24, the New York Stock Exchange (NYSE) partnered with tokenization platform Securitize to build blockchain-based infrastructure for tokenized stocks and exchange-traded funds.
In January, the NYSE’s parent company, the Intercontinental Exchange (ICE), shared plans for a tokenized securities venue designed for 24/7 trading, instant settlement, stablecoin-based funding and onchain settlement.
Magazine: Wall Street’s tokenization boom has a liquidity problem: Axis CEO
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- SWIFT
- Tokenization
- RWA Tokenization
- Banks
- Payments
- Institutions
- Blockchain
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