SWIFT launches tokenized 24/7 cross‑border payment interlinking

SWIFT has put into live operation a blockchain‑based interlinking solution that connects 17 pilot banks to transfer tokenised deposits. The system adds a ledger‑layer for routing and messaging while the final settlement continues to use existing SWIFT and ISO‑20022 infrastructure, enabling payments to be processed round‑the‑clock, including nights and weekends.

The architecture is chain‑agnostic; it can link Distributed Ledger Technologies such as Hedera, Ethereum and Hyperledger Besu, with Chainlink’s Cross‑Chain Interoperability Protocol handling cross‑chain communication. XRP may be used as an optional bridge asset, but it is not required for settlement. The rollout follows a U.S. sandbox program that demonstrated real‑world payment flows on multiple ledgers.

SWIFT positions the solution as a way to reduce integration costs for banks, improve liquidity management and promote broader adoption of tokenised assets and stablecoins in the cross‑border payments market.