Swift has activated its new blockchain-based ledger for live cross-border payment trials with 17 global banks.
It comes as financial institutions increasingly modernize systems to support 24/7 transactions and manage liquidity more efficiently.
Thierry Chilosi, chief business officer at Swift, explained that the new capability extends the stability of established finance into digital money frontiers.
“The strong support from banks shows the practical value of this approach,” Chilosi said.
The system acts as a secure layer for bank-issued tokenised deposits, allowing corporate clients to move funds overnight or during weekends. Final settlements are then processed through existing networks. Global institutions joining the pilot include HSBC, Lloyds Bank, Citi, and Barclays.
The launch aligns with major market shifts in 2026, where tokenisation has moved from isolated pilots to a core layer of global banking architecture. Market forecasts show cross-border payment volumes are expected to reach several hundred trillion dollars globally in the coming years.
Swift currently handles the equivalent of world gross domestic product every two to three days across 200 markets. The platform expects the ledger to expand in functionality, providing a baseline for future digital tools such as programmable money.
