Swift Launches Blockchain Ledger for 24/7 Banking with 17 Global Giants

Swift, the global financial messaging network, has introduced a new blockchain-based ledger designed to enable round-the-clock banking services for 17 major international financial institutions. This initiative aims to modernize cross-border payments and settlement processes, leveraging distributed ledger technology (DLT) to enhance efficiency, transparency, and availability. The move signals a significant step toward integrating blockchain into traditional banking infrastructure, potentially reducing transaction times and costs while improving security. Key participants include leading banks and financial entities, positioning Swift as a pivotal player in the evolving digital finance landscape.