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Swift to Integrate Blockchain-Based Ledger into Global Payments Infrastructure

Swift to Integrate Blockchain-Based Ledger into Global Payments Infrastructure

SWIFT’s collaboration with ConsenSys aims to create a blockchain ledger for faster, more efficient international payments, with major banks already testing the prototype.

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Fact Check
The statement is strongly supported by primary evidence. A press release from Swift itself (Source 1), corroborated by an industry publication (Source 9), confirms that Swift will begin trialling live digital asset transactions with global banks in 2025. This initiative is explicitly aimed at integrating these technologies, which are foundational to blockchain-based ledgers, into the global payments system. Evidence of earlier blockchain proofs-of-concept (Source 11) provides historical context for this strategic direction.
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Summary

SWIFT has announced a partnership with ConsenSys to develop a blockchain network for faster, more cost-effective cross-border transactions. While still in prototype stage, major banks like JP Morgan and Deutsche Bank are already involved in trials. The new infrastructure will support regulated stablecoins and tokenized assets, providing banks with a bridge between private and public blockchains.

Terms & Concepts
  • Blockchain: A decentralized digital ledger that records transactions across multiple computers in a secure and immutable manner, often used in cryptocurrency and digital finance.
  • Stablecoins: Cryptocurrencies that are pegged to a stable asset, such as a fiat currency, to minimize volatility in price fluctuations.
  • Tokenized Assets: Real-world assets such as property or commodities represented digitally on a blockchain, making them easier to trade and transfer.