SWIFT will introduce blockchain ledger to expand existing financial infrastructure

Swift officially announced that it is collaborating with over 30 banks worldwide to advance the design of a blockchain-based ledger system, aimed at expanding the existing financial infrastructure to support the large-scale circulation of tokenized assets.

Swift stated that the ledger will record and verify transaction sequences through smart contracts, enabling it to run in parallel with existing systems, addressing the fragmentation issue in digital finance, and enhancing the efficiency of global cross-border payments and asset transfers.