The Global SWIFT financial network announces a strategic collaboration with Consensys. The aim of this collaboration is to design a shared register based on the blockchain to accelerate and secure cross -border payments. More than thirty large banking institutions participate in the project, which will be based on an already tested prototype.
In short
- Swift combines with consensys to develop a blockchain register intended for real -time cross -border payments
- More than 30 major world banks, including Santander, BNP Paribas and HSBC, participate in design and implementation in order to ensure compliance and interoperability
Swift comes out of the wood and tests the blockchain
The interbank messaging network, Swift, prepares the integration of a shared register based on the blockchain directly in its infrastructure battery. Its first use case concerns real -time cross -border payments, 24/7.
Also, the design will be based on a prototype designed with Consensys, the workshop behind the Ethereum ecosystem and the L2 Linea. More than thirty financial institutions, including Santander, BNP Paribas and HSBC, participate in framing and implementation.
This announcement does not arrive in a vacuum. It extends work of 2023-2024 on tokenization and interoperability between public and private registers. Also, it echoes the “live” pilots provided by Swift for 2025. In short, the heart of the banking system finally tries a “on-chain” transplant, without denying its standards of conformity.
The persistent rumor of a test on Linea was not just a corridor noise. Indeed, several recent reports mention active experiments with this L2 Ethereum. It is one more index that the initiative targets production, not the simple proof-of-concept.
Why Swift moves now
Stablecoins and crypto rails offer almost instantaneous regulations, with readable costs. The banks, on the other hand, are still based on fixed settlement hours and on intermediary chains which slow down transfers and increase the cost. Swift wants to end this asymmetry by offering an Always-On service to the banking standard.
In addition, appetite for tokenization continues to grow. Deposits, bonds or coins from Central Bank tokenized require safe bridges between old and new rails. Swift aligns with a shared register, interoperable by design, which places governance and conformity at the heart of the model.
On the market side, isolated projects of private registers have fragmented the ecosystem. By offering a common framework backed by its network, Swift aims to aggregate volumes and reduce integration friction for its 11,500 members.
Architecture: shared register, interoperability and role of Linea
The shared register referred to by SWIFT must record, sequence and validate regulated tokenized values, and this, via smart contracts. However, everything must remain compatible with existing systems and new public/private networks.
On the stack side, the idea is not to evacuate the messaging layer. Indeed, this remains useful for carrying large volumes of data and compliance signage (KYC/AML, sanctions, payment status). Blockchain brick becomes the source of truth for the transactional state and execution. This decoupling, already recalled by Swift, is the key for the rise.
Linea meanwhile, which is an L2 ZK, allows low costs, high speed and a purpose inherited from Ethereum. Also, it facilitates bridges to other networks. It sticks with the objective of interoperability claimed by Swift and its group of 30+ banks.
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