Swift to Launch Blockchain Ledger for Real-Time Cross-Border Payments in 200+ Countries

Swift announced plans to add a blockchain-based shared ledger to its network, aiming to expand digital finance to more than 200 countries and territories. The ledger is designed to enable real-time, 24/7 cross-border payments, allowing banks to move regulated tokenized value securely and efficiently across digital ecosystems. Swift will work with more than 30 global financial institutions to develop the ledger, beginning with a conceptual prototype created with Consensys.

The Swift Blockchain Ledger

The shared ledger will serve as a secure, real-time log of transactions between financial institutions. It will record, sequence, and validate payments, enforcing rules via smart contracts. Interoperability is a central feature, ensuring the ledger can work with both existing financial networks and emerging blockchain systems.

The ledger is part of Swift’s broader infrastructure role rather than a platform for issuing tokens. The types of digital assets to be exchanged will be determined by commercial and central banks. Swift’s responsibility is to provide a trusted, resilient infrastructure capable of handling high-volume, cross-border transactions at scale.

How the Ledger Will Work

Swift’s design allows blockchains to operate alongside traditional banking systems. Key features include:

• Dynamic Transaction Validation: Transactions will be verified in real time, ensuring compliance and accuracy.
• Smart Contracts Enforcement: Payment rules and protocols will be executed automatically through programmable contracts.
• Interoperability: The ledger will support private and public networks, enabling integration with existing fiat rails and emerging digital systems.
• Resilience and Trust: Swift’s reputation for secure interbank messaging will extend to the ledger, maintaining compliance standards and operational reliability.

Financial institutions from 16 countries are already providing input on the ledger design. This collaborative effort includes banks such as Bank of America, HSBC, JP Morgan Chase, BNP Paribas, and Banco Santander.

Phased Development and Prototype

The project begins with a conceptual prototype in phase one, focusing on 24/7 cross-border payments. Swift plans to iterate rapidly, working closely with the consortium of banks to refine features and ensure real-world applicability. Once the prototype proves successful, Swift will define subsequent phases, which may include broader functionality, integration with tokenized assets, and additional use cases in digital finance.

This phased approach allows Swift to manage technical and operational risks while exploring performance, scalability, and security considerations for high-volume international transactions.

Strategic Goals

Swift aims to modernize cross-border payments by:

• Reducing settlement times from days to near real time.
• Ensuring interoperability between legacy systems and blockchain-based networks.
• Supporting regulated tokenized value movement for central banks and commercial institutions.
• Maintaining trust, compliance, and operational resilience while scaling global payments.

The ledger also aligns with Swift’s ongoing innovations in digital asset trials and ecosystem improvements. 

Technical Advantages of Blockchain

Blockchain’s structure allows value and information to move across networks with fewer intermediaries. For banks, this means faster settlement times and lower operational costs. Pilot projects demonstrate that tokenized asset transfers that once took multiple reconciliations can now settle in minutes.

Swift’s ledger aims to apply these principles to global payments. Having a trusted, compliant infrastructure allows the system to support regulated value transfers without compromising security or operational standards.

Context: The Web3 Shift in Banking

The move reflects broader trends in finance. Data from the Bank for International Settlements shows that over 90% of central banks are exploring digital currencies, often with a focus on cross-border interoperability. Swift’s ledger complements these efforts by providing a scalable infrastructure capable of handling regulated digital assets and integrating with existing banking systems.

In Europe, initiatives such as the European DLT Network Regulated Layer One (RL1) are advancing similar goals. These networks aim to provide cooperative, bank-controlled blockchain infrastructure for financial transactions, demonstrating that the industry is moving toward hybrid digital-finance ecosystems.

Conclusion

Swift’s blockchain-based ledger is designed to extend its global payments infrastructure into the digital era. The system enables real-time cross-border payments, supports tokenized value transfers, and maintains interoperability with legacy and emerging networks. While development is in the early prototype phase, the initiative brings together over 30 financial institutions to test and refine the platform. The ledger emphasizes secure, scalable, and compliant infrastructure capable of supporting the evolution of digital finance worldwide.

Resources:

1. Press release - Swift to add blockchain-based ledger to its infrastructure stack in groundbreaking move to accelerate and scale benefits of digital finance across more than 200 countries and territories worldwide: https://www.swift.com/news-events/press-releases/swift-add-blockchain-based-ledger-its-infrastructure-stack-groundbreaking-move-accelerate-and-scale-benefits-digital-finance

2. Swift news events: https://www.swift.com/news-events/news

3. Bank for International Settlements report: https://www.bis.org/publ/bppdf/bispap159.htm

4. Swift to build a blockchain based ledger for financial-firms - report by Bloomberg: 

5. https://www.bloomberg.com/news/articles/2025-09-29/swift-to-build-a-blockchain-based-ledger-for-financial-firms