Swift Taps Consensys for Blockchain Payments Platform with 30+ Major Banks

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The initiative, revealed at the annual Sibos conference, aims to enable instant, 24/7 payments for its network that connects more than 200 countries.Swift is collaborating with Ethereum software firm Consensys on an initial prototype, alongside over 30 major financial institutions, including JPMorgan, HSBC, and Deutsche Bank.The shared ledger is designed to give financial institutions a trusted platform for moving regulated, tokenized value. According to the official announcement, the system will automatically use smart contracts to record, validate, and secure transactions in real-time.A key feature of the ledger is its focus on interoperability, allowing it to connect with existing financial systems and other emerging blockchain networks.According to Swift CEO Javier Pérez-Tasso, the initiative is a key step in creating the “infrastructure stack of the future.” He explained that the ledger concept will allow financial institutions to elevate the payments experience by leveraging Swift’s proven and trusted platform for digital transformation.The initiative has drawn strong backing from its banking partners, who see it as a critical upgrade for global finance. Leaders from institutions like Bank of America emphasized that the shared ledger will provide essential transparency and interoperability needed to manage payments in a 24/7 world.This sentiment was echoed by others, who view the project as laying the foundation for a more resilient and future-ready financial ecosystem, especially as the market for tokenized real-world assets continues to expand.This project is a core part of Swift’s broader, dual-track innovation strategy. The organization is working to simultaneously upgrade its existing payment rails for traditional currencies while building out new infrastructure for the growing digital asset economy.This move aligns with a broader industry trend of integrating blockchain into traditional finance, with recent examples including a legally binding bank payment on a public blockchain in Switzerland and a separate effort by European banks to develop a MiCA-backed euro stablecoin.Read original story Swift Taps Consensys for Blockchain Payments Platform with 30+ Major Banks by Zoran Spirkovski at Coinspeaker.comTerms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,688.46 +27.25 (+0.41%)Dow 3046,397.89 +81.82 (+0.18%)Nasdaq22,660.01 +68.86 (+0.30%)Russell 20002,436.48 +1.24 (+0.05%)VIX16.28 +0.16 (+0.99%)Gold3,883.80 +10.60 (+0.27%)PortfolioSign in to access your portfolioSign inTop gainersWOLF Wolfspeed, Inc. 28.60 +6.50 (+29.41%)UNFI United Natural Foods, Inc. 37.62 +5.86 (+18.45%)SMTC Semtech Corporation 71.45 +9.47 (+15.28%)BE Bloom Energy Corporation 84.57 +10.97 (+14.90%)CRWV CoreWeave, Inc. 136.85 +14.33 (+11.70%)Top losersMENS Jyong Biotech Ltd. 39.38 -10.62 (-21.24%)FLY Firefly Aerospace Inc. 29.32 -7.64 (-20.67%)DOCU DocuSign, Inc. 72.09 -10.05 (-12.24%)KVYO Klaviyo, Inc. 27.69 -3.80 (-12.07%)BRZE Braze, Inc. 28.44 -3.78 (-11.73%)Most activeSNAP Snap Inc. 7.71 -0.69 (-8.21%)NVDA NVIDIA Corporation 186.58 +4.70 (+2.59%)OPEN Opendoor Technologies Inc. 7.97 -0.23 (-2.80%)PFE Pfizer Inc. 25.48 +1.63 (+6.83%)INTC Intel Corporation 33.55 -0.92 (-2.67%)Earnings eventsMy earnings eventsEarnings eventsTrending tickersNKE NIKE, Inc. 69.73 +0.18 (+0.26%)PFE Pfizer Inc. 25.48 +1.63 (+6.83%)CRWV CoreWeave, Inc. 136.85 +14.33 (+11.70%)LLY Eli Lilly and Company 763.00 +36.49 (+5.02%)DKNG DraftKings Inc. 37.40 -4.90 (-11.59%)Top economic events