SWIFT's new blockchain ledger is live after 9 months of development, with 17 major banks set to pilot tokenized deposit payments across borders around the clock.
- SWIFT has launched its new blockchain ledger, enabling a pilot program with 17 major banks to test tokenized deposit payments across borders.
- The initiative aims to facilitate 24/7 settlement for cross-border transactions, enhancing the speed and flexibility of international finance while maintaining existing compliance standards.
- This development aligns with a broader trend of regulated financial institutions adopting tokenized infrastructure, seen in parallel efforts by other banking consortia and stock exchanges.
Topics: Banks bankingsystems, Payment system integration, Blockchain usage, Custody asset servicing, Cross border settlement, Private enterprise ledgers
Tags: #swift #blockchainledger #tokenizeddeposits #crossborderpayments #pilotprogram #17banks #247settlement #digitalassets #programmablemoney
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