13th July 2026
By Shubhii Verma
Global financial messaging network Swift has announced that its new blockchain-based shared ledger is ready for its first live implementation, with 17 major banks across six continents preparing to pilot tokenised cross-border payment transactions. The initiative marks a significant milestone in Swift’s efforts to modernize international payments by integrating blockchain technology into the traditional banking system.
Swift Introduces Blockchain-Based Shared Ledger for Global Payments
The new shared ledger acts as a secure coordination layer that allows participating financial institutions to transfer bank-issued tokenised deposits across their own ledgers. Rather than replacing existing banking infrastructure, the platform enables banks to seamlessly orchestrate tokenised transactions while maintaining control over their individual systems. This approach is expected to support 24/7 cross-border payments, overcoming the limitations of conventional banking hours and settlement windows.
Major Global Banks Join Swift’s Tokenisation Pilot
Among the banks participating in the initial pilot are several of the world’s leading financial institutions, including ANZ, BNP Paribas, BNY, Citi, DBS, First Abu Dhabi Bank, FirstRand Bank, HSBC, and Itaú Unibanco. Their participation reflects growing interest among global banks in leveraging blockchain technology to improve payment efficiency, liquidity management, and transaction speed.
Swift first introduced the concept of the blockchain-based shared ledger in 2025 and developed the platform over the course of nine months in close collaboration with international financial institutions. Feedback from participating banks helped shape the solution, ensuring it could integrate with existing financial systems while meeting the operational and security standards required for global banking.
The ledger represents Swift’s first practical use case for blockchain technology and highlights the organization’s broader strategy of supporting tokenisation within the global financial ecosystem. By enabling tokenised deposits to move securely across different banking platforms, Swift aims to simplify cross-border settlements and reduce the delays typically associated with international money transfers.
What the Pilot Means for the Future of Cross-Border Payments
The launch also reflects the growing momentum behind tokenised financial assets, as banks worldwide increasingly explore blockchain-based payment infrastructure. Tokenised deposits are viewed as a potential bridge between traditional banking and digital asset technology, offering the benefits of faster settlement, improved transparency, and continuous availability without requiring financial institutions to abandon existing payment networks.
As the pilot progresses, the participating banks will test the shared ledger under real-world conditions to evaluate its performance, scalability, and interoperability. If successful, the initiative could pave the way for broader adoption of blockchain-powered payment systems, helping transform how financial institutions process international transactions while delivering faster and more efficient services to businesses and customers worldwide.
