Swift Unveils Blockchain Ledger to Transform Global Cross-Border Payments

The first use case targets real-time, 24/7 cross-border payments, aiming to eliminate settlement delays and deliver instant processing across more than 200 countries and territories. The ledger will function as a secure, transparent log of transactions between financial institutions, recording, sequencing, and validating entries while enabling rule enforcement through smart contracts.

Swift emphasized that its role will remain focused on infrastructure rather than token issuance. Commercial and central banks will determine the types of regulated tokenized value exchanged on the network, while Swift ensures interoperability with existing and emerging payment systems. The cooperative highlighted its aim to provide a trusted and resilient digital foundation, preserving the compliance and security standards that underpin global finance.

Industry leaders have endorsed the move. ANZ described the ledger as a “pivotal step toward global, instant, always-on transactions,” while Bank of America noted the importance of transparency and interoperability in a 24/7 payments environment. BBVA called the project a “game-changer,” citing the efficiency and resilience it promises for clients. BNP Paribas stressed that blockchain ecosystems will require standards and trusted rails, with Swift uniquely positioned to provide them.

Swift’s broader strategy involves parallel innovation tracks: upgrading existing fiat rails while simultaneously building the digital rails of the future. Alongside the ledger project, Swift announced solutions to orchestrate interoperability between private and public networks, supporting diverse use cases. Last week, it also unveiled new rules for existing rails to ensure faster and more predictable consumer and SME transfers worldwide.

The initiative has drawn support from a coalition of major banks including Bank of America, Citi, Deutsche Bank, HSBC, JPMorgan Chase, First Abu Dhabi Bank, Emirates NBD, Standard Chartered, and Westpac. Together, these institutions represent a significant share of global financial flows, reinforcing the potential impact of the ledger once deployed.

Swift CEO Javier Pérez-Tasso framed the project as part of the cooperative’s mission to deliver the infrastructure stack of the future. He stated: “We provide powerful and effective rails today and are moving at a rapid pace with our community to create the infrastructure stack of the future. Through this initial ledger concept we are paving the way for financial institutions to take the payments experience to the next level with Swift’s proven and trusted platform at the centre of the industry’s digital transformation.”

Headquartered in Belgium, Swift serves more than 11,500 banking and securities organizations in over 200 jurisdictions. While it does not hold customer funds, its secure messaging and compliance infrastructure supports the daily functioning of global trade and commerce. The new ledger is designed as a natural extension of this role, aligning Swift’s heritage of trusted connectivity with the rapid evolution of blockchain-powered finance.

Analysts note that Swift’s approach differs from more experimental blockchain projects in the payments sector, as it builds on an already entrenched global network. By integrating distributed ledger technology into existing infrastructure rather than replacing it, Swift is seeking to accelerate adoption while minimizing disruption. This hybrid path could allow banks and regulators to transition into digital asset settlement with greater confidence.

At the same time, the initiative underscores the growing convergence of traditional financial institutions and blockchain ecosystems. By formalizing blockchain within its stack, Swift is positioning itself at the crossroads of legacy banking and next-generation digital finance, a step that could reshape how value is exchanged globally for decades to come.