Swift said that its blockchain-based ledger is ready for initial use, with 17 banks from six continents preparing to pilot live transactions using tokenized deposits. The shared ledger is designed to support 24/7 cross-border payments, making tokenized bank deposits a live test case for always-on money movement.
The ledger acts as a secure orchestration layer for bank-issued tokenized deposits held on participating banks’ own ledgers. It allows funds to move for customers overnight and on weekends before final settlement through existing systems, giving banks a bridge between digital-asset speed and established compliance controls.
Swift said the tokenized-deposit pilot is the first use case for the ledger, which was designed and built with feedback from international financial institutions in nine months. The next step is the controlled go-live phase, after which functionality and availability are expected to expand, making bank execution the key measure of whether shared-ledger payments can scale.
Source: Swift.
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