Swift launches blockchain ledger for tokenized deposit pilot with 17 banks

What happened

Swift launched a blockchain-based ledger that enables 17 banks to pilot 24/7 cross-border payments using tokenized deposits.

Confirmed

Global impact / market context

Swift’s new blockchain ledger lets banks move money instantly, any time of day, using digital versions of cash (tokenized deposits). This could speed up global trade and lower costs for businesses that send money abroad.

Confirmed

Cross‑border payments are a huge market, but most systems settle only during business hours and charge high fees. Blockchain pilots by major networks are trying to show faster, cheaper alternatives.

Analyst inference

What to watch

1. Adoption rate – watch how many of the 17 banks move from pilot to full‑scale use, which would signal broader industry confidence in blockchain‑based settlement. Proposed
2. Regulatory response – monitor if regulators issue guidance on tokenized deposits, as clear rules could accelerate or slow down implementation across banks. Proposed
3. Competitive reaction – see whether rival payment networks launch similar blockchain ledgers, which could create a race for the fastest, most cost‑effective cross‑border solution. Proposed

Affected assets

• BLOCK — Block
• DFI — DeFiChain

Evidence

• theblock.co