Payment innovation

Swift has successfully completed the design phase of its blockchain-based shared ledger, and is now actively building the first iteration that will enable interoperability between banks’ tokenised deposits to facilitate 24/7 cross-border payments.

Over 50 banks around the world have signed up to our payments scheme, designed to introduce a framework that will transform consumer payments. Here, we unpack progress already made in 2026.

At Swift, our mission has always been to continually innovate and elevate the cross-border payments experience. Today, we are taking a pivotal step forward: adding a blockchain-based shared ledger to our technology infrastructure.

Today, 75% of payments travelling over our network reach beneficiary banks within just 10 minutes. But more work is needed at the final stage of a payment’s journey—the last mile—to address friction that delays funds from being delivered to end beneficiaries.

Swift is introducing a blockchain-based ledger into its infrastructure—a major milestone aimed at enabling trusted movement of tokenized value across digital ecosystems and supporting 24/7 cross-border payments.

Rising customer expectations for instant, transparent international payments and regulatory pressure (e.g., G20 roadmap) are driving the need for a new scheme that ensures predictability and speed.

Michael Spiegel, Standard Chartered Bank and Thierry Chilosi, Swift - Future of cross-border transactions with Swift’s blockchain-based ledger

Manish Kohli, HSBC and Thierry Chilosi, Swift - Laying the foundations: Setting out the vision for Swift’s new ledger

During a Big Issue Debate at Sibos, Thierry Chilosi answer a key question on the ledger: why now?

At Swift, our priority is to make cross-border payments as fast and seamless as domestic ones. With our latest major initiative, we’re taking another bold step toward that goal – launching a new scheme to guarantee a consistently fast, predictable and transparent experience for retail customers worldwide.

At Swift, our mission has always been to continually innovate and elevate the cross-border payments experience. Today, we are taking a pivotal step forward: adding a blockchain-based shared ledger to our technology infrastructure.