Swift is advancing a blockchain shared ledger MVP for use in tokenized bank deposits and cross-border payments.

Swift announced on March 30 that it has completed the design phase for its blockchain shared ledger project involving multiple banks globally. The company is currently implementing its first MVP version, with plans to launch it in real-world transaction scenarios later this year. This shared ledger is designed to enable interoperability between tokenized deposits across banks and support 24/7 cross-border payment settlement. Swift stated that the system will reuse existing compliance processes, support multiple settlement methods, accelerate the migration of traditional banks to digital finance, and improve payment speed, liquidity visibility, and reconciliation efficiency.