Swift has stated that it would introduce a blockchain-based shared ledger into its technology infrastructure, a key step in the development of global cross-border payments. The project will help support real-time, 24/7 transactions, but maintain the integrity, compliance and resiliency on which the current Swift network is built.
ANZ is working with us as part of a global group of banks helping to build a blockchain-based ledger for the seamless and secure movement of value across borders.
Through industry collaboration, we’re expanding Swift’s infrastructure and improving current rails to deliver… pic.twitter.com/kkrvKUHMyp
— Swift (@swiftcommunity) February 27, 2026
It was announced at Sibos 2025, SWIFT’s annual conference, in Frankfurt. The new ledger will not replace Swift, but will complement existing messaging and interoperability services to form a hybrid model between traditional financial and new digital asset ecosystems.
Announcement at Sibos 2025 signals strategic change
Swift CEO Javier Perez-Tasso stated in his opening speech of the plenary meeting that this move would be surprising for some market segments. However, he pointed out that blockchain and legacy financial infrastructure do not have to be exclusive to each other.
Pérez-Tasso suggests that the future controlled financial system will need trusted institutions to support the token value and that banks are increasingly receiving requests from Swift to become more involved. He explained that the new ledger will facilitate the trusted transfer of digital value across unlimited ecosystems, without compromising regulatory control and operational excellence.
Designing a shared digital ledger
Swift is also working on the ledger with a group of more than 30 international financial institutions. The first application will cover 24/7, real-time cross-border bank-to-bank payments, addressing the historical issues of settlement speed, transparency and liquidity management.
The first phase will be a conceptual prototype, which will be built using Consensys. Ledger documents, numbers and verifies transactions and implements established policies using smart contracts. According to Swift, the principle of interoperability is still part of the design, as the ledger can be connected to current correspondent bank rails and to new blockchain networks in the future.
Combining blockchain with existing Swift infrastructure
Rather than working alone, the shared ledger will be part of Swift’s current messaging services, APIs, and ISO 20022 standards. This approach enables the integration of compliance controls, risk controls and governance requirements into transaction flows from their inception.
Swift believes this multi-layered innovation model will increase predictability and efficiency in cross-border payments, and help banks operate tokenized money and assets in a trusted global system. The organization emphasized that the resilience, scalability and security as pillars of the system will not be compromised.
Broad industrial participation from global banks
There are 16 countries that are already involved in the design and management of the ledger through financial institutions. Some of the participating banks include: Bank of America, BNP Paribas, HSBC, JP Morgan, Deutsche Bank, Citi, Standard Chartered, Wells Fargo, BBVA and ANZ.
A number of executives underscored the value of collaboration, saying that just one institution cannot modernize global payments. The need for common standards and interoperability across currency sectors, as well as an infrastructure that could handle regulated digital assets at scale, was often mentioned.
Focus on compliance, governance and scale
Swift reiterated on several occasions that the project is focused on regulatory compliance and governance. The common ledger will be designed in a way that meets global regulatory requirements so that it is able to support tokenized value without damaging financial stability or trust.
The development of the ledger as an industry-controlled platform allows Swift to motivate its widespread use without fragmentation between different blockchain systems. The organization believes that this strategy will move the financial sector towards a homogeneous set of digital money and payment standards.
Looking ahead to the future of payment transactions
The ledger-based blockchain foundation builds on Swift’s pre-existing digital asset testing and interoperability efforts on both public and private networks. Swift, together with the ledger, is also building customer-centric solutions to keep value flowing smoothly between traditional accounts, tokenized assets and blockchain-based systems.