Chainlink has announced plans to enable financial institutions to connect their systems and key-signing infrastructure to Swift’s blockchain ledger, a move aimed at accelerating the adoption of tokenised deposits and 24/7 cross-border payments.
The initiative will allow banks to access Swift’s ledger through the Chainlink platform while retaining control over the cryptographic keys used to authorise transactions.
The solution is powered by Chainlink’s Runtime Environment (CRE), which orchestrates workflows between financial institutions and Swift’s blockchain infrastructure.
According to Chainlink, the model is designed to help banks adopt tokenised payment workflows while maintaining existing security controls, governance frameworks and operational processes.
The development comes as financial institutions continue to explore how tokenised deposits can support always-on payments and settlement services without requiring significant changes to existing banking infrastructure.
Swift’s blockchain ledger acts as an orchestration layer for tokenised deposits that remain on participating banks’ own ledgers and balance sheets. Rather than replacing existing payment rails, the ledger coordinates the movement of funds between institutions, including outside traditional banking hours.
Swift first unveiled the shared ledger concept at Sibos 2025.
Developed in collaboration with more than 40 financial institutions, the platform progressed from concept to activation within nine months. Seventeen banks are currently piloting tokenised deposit transactions across a range of use cases.
“I’m very excited about the Swift ledger and what it will mean for tokenized deposits, as well as where global payments goes next,” said Sergey Nazarov, CEO of Chainlink Labs.
“We are thrilled to be supporting the Swift ledger as more banks seek to join it and need a technology partner that can help them launch tokenized deposit capabilities and properly connect to the Swift ledger to gain the full benefit of its large network of users.”
The announcement highlights the growing convergence between traditional financial market infrastructure and blockchain-based systems, with tokenised deposits emerging as a key area of focus for banks seeking to modernise payments while maintaining regulatory and operational safeguards.
Swift’s network currently connects more than 11,500 financial institutions and corporates across more than 200 markets.
