Swift rolls out new blockchain ledger to bring 24/7 banking to 17 global giants
Swift has launched a new shared blockchain ledger platform to enable 24/7 banking transactions for 17 global financial institutions. The system allows banks to settle tokenized deposits and stablecoins across borders while maintaining final settlement through existing payment rails.
Why it matters
This development represents a significant step in integrating traditional banking infrastructure with digital assets, potentially increasing the speed and availability of global cross-border payments.
Swift said the ledger is ready for initial use by banks across six continents in an announcement on Thursday. Its aim is to allow banks to move funds for customers overnight and on weekends, before final settlement through existing payment systems.
The article reports on a corporate announcement using neutral, factual language without editorializing.
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