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Michael Geike, co-founder & CEO at Advanced Blockchain AG, reports that Swift has launched a blockchain ledger pilot for tokenized deposits, collaborating with 17 major banks including Citi, HSBC, UBS, DBS Bank, Standard Chartered, BNP Paribas, Wells Fargo, and BNY.
The initiative aims to test shared on-chain settlement and could signal a shift in global finance infrastructure.
Geike has previously highlighted executive changes at major crypto organizations, reporting on Hsiao-Wei Wang's departure from the Ethereum Foundation as well as trading activity in Strategy's STRC token. He has also discussed tokenization efforts granting investors access to pre-IPO shares in firms like SpaceX and OpenAI. The recent Swift pilot marks another instance of Geike tracking blockchain integration in traditional finance.