Swift is advancing a blockchain shared ledger MVP for use in tokenized bank deposits and cross-border payments.

CoinFeed reported on March 30 that Swift announced the completion of the design phase for its blockchain shared ledger project with multiple banks worldwide, and is currently implementing its first MVP version, with plans to launch it in real-world transaction scenarios later this year. This shared ledger aims to enable interoperability between tokenized deposits across banks and support 24/7 cross-border payment settlement. Swift stated that the system will reuse existing compliance processes, support multiple settlement methods, accelerate the migration of traditional banks to digital finance, and improve payment speed, liquidity visibility, and reconciliation efficiency.