Swift goes live with blockchain-based ledger for major banks, Simon Taylor notes

Swift goes live with blockchain-based ledger for major banks, Simon Taylor notes
Swift brings blockchain ledger to banks

Simon Taylor, co-founder at 11:FS, reports that Swift has launched its blockchain-based shared ledger with participation from 17 major banks such as Citi, HSBC, UBS, BNP Paribas, BNY, Standard Chartered, and Lloyds.

The new system is aimed at enabling 24/7 money transfers between banks using tokenized deposits, while final settlement continues on existing infrastructure.

Taylor has previously tracked major shifts in payment systems. He reported on Visa and Mastercard’s $38 billion settlement with merchants over swipe fees. More recently, he noted that Robinhood introduced a 7% yield via USDG stablecoin for its users. These reports reflect ongoing changes in financial infrastructure and digital assets.

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