TechFlow News, March 30: SWIFT (Society for Worldwide Interbank Financial Telecommunication) announced significant progress on its blockchain-based shared ledger project. The design phase with multiple global banks has been completed, and the project has officially entered the development phase of its first minimum viable product (MVP), with plans to go live with real transactions by the end of 2026.
This ledger aims to enable interoperability of tokenized deposits among banks and support 24/7 cross-border payments. Functionally, it supports payments using tokenized deposits, reuses existing compliance processes, and is compatible with multiple settlement methods.
SWIFT stated that the core advantages of this ledger include faster payment execution, enhanced liquidity visibility, reduced reconciliation effort, and cross-institutional interoperability. SWIFT is currently collaborating with banks worldwide to accelerate the financial industry’s transition to digital finance.
