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SWIFT will establish a blockchain-based ledger for financial firms

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2025-09-29 08:06:14
SWIFT, the Society for Worldwide Interbank Financial Telecommunication, will add a blockchain-based ledger to its infrastructure. Global Financial Institution Groups use SWIFT to send tens of millions of transaction instructions every day. SWIFT has initiated work with more than 30 global Financial Institution Groups, including JPMorgan Chase, HSBC Holdings, Bank of America and Deutsche Bank, to design and build the ledger, SWIFT said in a statement Monday. The first prototype will focus on real-time, 24/7 cross-border transfers and will use technology from Consensys, a US blockchain software company. The ultimate goal of SWIFT's blockchain-based infrastructure is to allow its members to use the network for transactions involving various digital assets, such as stablecoins, tokenized deposits or other tokenized assets. Blockchain technology experiments, including the Monetary Authority of Singapore's Project Guardian, have been underway for years.
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