Chainlink links bank systems to Swift ledger for tokenized deposits

  • Chainlink introduced a framework connecting bank systems to Swift's blockchain ledger.
  • CRE coordinates ledger workflows while financial institutions retain their transaction-signing keys.
  • Seventeen banks are preparing live tokenized-deposit pilots on Swift's ledger.

Chainlink has introduced a framework allowing financial institutions to connect existing bank systems and signing infrastructure to Swift's blockchain ledger while retaining control of transaction-signing keys. The Chainlink Runtime Environment, or CRE, coordinates workflows between institutional infrastructure and Swift's shared ledger, allowing banks to read from and write to the system without transferring signing authority to Chainlink. Swift's ledger is designed to coordinate round-the-clock cross-border payments using tokenized commercial-bank deposits, while final settlement continues through real-time gross settlement systems, correspondent banking arrangements or other mechanisms agreed by participants. Seventeen banks across six continents are preparing live tokenized-deposit pilots after Swift moved the ledger into initial-use status in July. Oracle has separately integrated its financial-services technology with the ledger, including Oracle Banking Payments for connections to existing ISO 20022 payment processing.

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