SWIFT’s Blockchain Breakthrough: Banks Race to Supercharge Global Payments
SWIFT has partnered with over 30 global banks and Consensys to build a blockchain-based shared ledger for 24/7 cross-border payments, aiming to cut multi-day delays. The prototype uses Ethereum technology to process tokenized assets, including stablecoins and CBDCs. SWIFT is also testing migration of its messaging system to Ethereum Layer-2 Linea for greater privacy. The move follows Visa’s stablecoin pilot and rising adoption of digital currencies.