Swift Integrates Blockchain Ledger for Real-Time Cross-Border Payments

According to Foresight News, Swift has announced the integration of a blockchain-based shared ledger into its technology infrastructure following successful digital asset interoperability tests. This ledger will initially focus on enabling 24/7 real-time cross-border payments and is being developed in collaboration with over 30 global banks. This initiative is part of Swift's digital asset pilot program. Previously, Swift partnered with UBS and Chainlink to bridge tokenized assets with existing payment systems. It also collaborated with Citibank to facilitate settlement payments between fiat and digital currencies. Additionally, Swift worked with Northern Trust and the Reserve Bank of Australia to exchange digital asset transactions through commercial bank accounts, and with HSBC and Ant International to achieve blockchain interoperability based on the ISO 20022 standard within its network.