Onchain value $345.1bn0.96%
Subscribe
Cryptoeconomics

News, data and analysis on tokenized assets, market design and digital economic systems.

Standards body

Swift

Member-owned cooperative constituted under Belgian law in 1973 that carries the messaging instructing cross-border payments for more than 11,500 institutions; in September 2025 it said it would add a shared blockchain ledger for regulated tokenized value.

Kind Standards body
Jurisdiction European Union
Founded 1973
Stories filed 3

The profile

Cooperative constituted under Belgian law in 1973 and owned by its members, carrying the messaging that instructs cross-border payments and securities transactions for more than 11,500 institutions across over 200 countries and territories, at an average of more than 53 million FIN messages a day. It moves no money itself: banks and other institutions settle, while Swift sequences and standardises the instructions, and its ISO 20022 migration and gpi tracking define the data that accompanies most correspondent banking payments. On 29 September 2025 it said it would add a blockchain-based shared ledger to its own infrastructure, prototyped with Consensys and more than 30 institutions from 16 countries, to record and validate transfers of any form of regulated tokenized value, an attempt to keep the interoperability layer inside the cooperative rather than cede it to bilateral bank networks.

Frameworks and functions

Swift messaging network
Standardised financial messaging between member institutions, averaging more than 53 million FIN messages a day.
Swift gpi
Payment tracking and confirmation service that gives correspondent banking transfers an end-to-end reference and status.
Shared ledger
Blockchain-based ledger announced in September 2025, prototyped with Consensys and over 30 institutions to sequence and validate transfers of regulated tokenized value.

Coverage

Developments in which Swift is a named party, newest first.

On the record

DBS, OCBC and UOB exchange tokenised deposits in Singapore dollars

The three banks said they had completed the first live domestic interbank Singapore dollar transactions using tokenized deposits over Swift's ledger. Their release describes the ledger as an orchestration layer that matched and netted the obligations before final settlement ran through existing systems, and gives no value, count, fee or client.

Institutional pilot Singapore Tokenized deposits DBS: DBS, OCBC and UOB complete first live blockchain-enabled SGD transactions on Swift's ledger ↗

DBS and Citi settle a weekend dollar payment on the Swift Digital Ledger

The two banks said on 7 September 2026 that they had completed what they call the first successful weekend United States dollar payment between Singapore and the United States using tokenized deposits over Swift's ledger, executed on Saturday 5 September and settling in minutes against an industry norm of up to two business days. No amount was disclosed.

Institutional pilot Singapore United States Tokenized deposits DBS: DBS and Citi partner to enable instant 24/7 cross-border USD payments with tokenised deposits ↗

Standard Chartered and HSBC settle a tokenized deposit on Swift's ledger

Standard Chartered and HSBC said on 19 August 2026 that they had executed the first live tokenized deposit transaction on Swift's blockchain-based ledger, describing it as issuing, transferring, recording and settling tokenized deposits between two banks and demonstrating interbank interoperability. No currency, value or corridor is disclosed in the release.

Institutional pilot Global Tokenized deposits Standard Chartered: Standard Chartered and HSBC execute first live tokenised deposit transaction on Swift's blockchain-based ledger ↗

Swift says it will add a blockchain-based shared ledger to its infrastructure

Swift said it would build a blockchain-based shared ledger into its infrastructure stack, initially for round-the-clock cross-border payments and the movement of regulated tokenised value, with smart contracts used to record, sequence and validate transactions. More than 30 financial institutions across 16 countries are working on the design, and Consensys was appointed to build the prototype for the first phase.

Standards Global Swift: Swift to add blockchain-based ledger to its infrastructure stack ↗

Official

www.swift.com ↗

Related

Analysis

Sources

  1. Swift: Discover Swift swift.com · 25 Jul 2026
  2. Swift: Swift to add a blockchain-based ledger to its infrastructure stack swift.com · 25 Jul 2026

The weekly read on onchain market economics

What issued, what settled, what the supervisors changed, with the numbers behind it and a note on what the numbers do not show. One email, Thursday mornings.

Unsubscribe in one click.