On September 29, 2025, at the Sibos conference in Frankfurt, Germany, Swift unveiled plans for a new blockchain-based ledger. This isn't some tech experiment it's a full-on upgrade to how banks move cash around the planet. Swift has long been the quiet hero behind the scenes. It connects over 11,500 financial institutions in more than 200 countries, handling tens of millions of messages daily to keep trade, salaries, and everyday transfers flowing. But cross-border payments can drag on for days, tied up in checks and time zones.
Now, teaming up with over 30 big-name banks Swift aims to fix that. They'll build a shared digital ledger, starting with a prototype crafted alongside Consensys, the Ethereum software firm led by Joseph Lubin. At its core, this ledger acts like a super-secure diary for transactions. It logs every move in real time, checks details with smart contracts, and keeps everything in sync 24/7. The focus? Instant cross-border payments that work around the clock, no matter the currency or token involved.
Swift's CEO, Javier Pérez-Tasso, shared the news to a packed room of bankers, stressing how it blends old-school reliability with fresh digital speed. Over the past two years, Swift has tested blockchain waters, running pilots with tokenized assets and digital currencies. This ledger builds on that, linking traditional systems to new ones without leaving anyone behind.
For families wiring cash home or small businesses buying supplies abroad, fewer delays mean less hassle and lower fees. It's a win for everyday folks who feel the pinch of slow money moves. It's about time the big players caught up to what we all need. This step feels like a turning point, where trusted finance meets cutting-edge tools. If it rolls out smoothly, expect quicker, cheaper global links that touch us all.
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Didn't Europe "ban" SWIFT since the Russia-Ukraine war ?
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