Swift Announces Its Blockchain Ledger Is Ready, 17 Banks to Pilot Tokenized Cross-Border Payments

CoinFeed July 9 news, according to official sources, Swift announced its blockchain-based ledger is ready, and 17 banks from six continents are preparing to pilot 24/7 cross-border payments using tokenized deposits. The ledger provides a secure orchestration layer for participating banks, supporting them to issue tokenized deposits on their own ledgers, enabling round-the-clock fund movement before final settlement through existing systems. Participating banks include ANZ, BNP Paribas, BNY Mellon, Citi, DBS Bank, First Abu Dhabi Bank, First Rand Bank, HSBC, Itaú Unibanco, Lloyds Banking Group, Mashreq Bank, MUFG, OCBC, Standard Chartered, UBS, UOB, and Wells Fargo.