Swift Announces Its Blockchain Ledger Is Ready, 17 Banks Will Pilot Tokenized Cross-Border Payments

According to Twitter, according to official sources, Swift announced that its blockchain-based ledger is ready, and 17 banks from six continents are preparing to pilot a 24/7 cross-border payment pilot using tokenized deposits.

The ledger provides participating banks with a secure orchestration layer, enables them to issue tokenized deposits on the bank's ledger, and allows funds to be moved around the clock before final settlement is completed through the existing system. Participating banks include ANZ, BNP Paribas, New York Mellon, Citibank, DBS, Abu Dhabi First Bank, First Rand Bank, HSBC, Itau Union Bank, Lloyds Bank, Maerschlegt Bank, Mitsubishi UFJ Bank, OCBC Bank, Standard Chartered Bank, UBS Group, UBS Group, UBS Bank and Wells Fargo Bank.