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SWIFT Blockchain Ledger Targets 24/7 Settlement Gap With 17-Bank Go-Live

GateNews
Forex
HSBC1.86%
UBS1.42%
According to SWIFT, the financial messaging network confirmed on July 10 that its blockchain-based shared ledger is ready for initial use, with 17 major banks including HSBC, Citi, UBS, and Standard Chartered launching live tokenized cross-border payments pilots. Built on Hyperledger Besu, the platform coordinates funding commitments across banks while final settlement remains on existing infrastructure, removing delays from timezone gaps and enabling 24/7 payment availability across nights, weekends, and across-time-zone flows. Each transaction uses bank-issued tokenized deposits backed one-to-one by commercial bank deposits rather than stablecoins, maintaining existing compliance and regulatory frameworks. SWIFT Chief Business Officer Thierry Chilosi said the platform enables tokenized value to move across borders with modern commerce speed while preserving resilience and security standards expected by global financial institutions.
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Swift Launches Blockchain Ledger Pilot With 17 Global Banks for 24/7 Token Transfers

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