The post How Swift and 30 Banks Aim to Build the Future of Cross-Border Transactions appeared on BitcoinEthereumNews.com. Key Highlights Swift partners with 30+ global banks to build a shared blockchain ledger New registry aims for faster, transparent, 24/7 global transactions Prototype will test real-world settlements with smart contract features A New Era for Swift and Global Payments International payment network Swift has announced plans to create a blockchain-based ledger for its infrastructure, marking a major step toward transforming how money moves across borders. The initiative, presented at the Sibos conference in Frankfurt, involves more than 30 global financial institutions, including Bank of America, JPMorgan, Deutsche Bank, HSBC, and BNP Paribas. The first stage focuses on developing a proof-of-concept prototype with blockchain developer Consensys, enabling instant, 24/7 cross-border payments. Swift CEO Javier Perez-Tasso described the project as “the next level of payment experience,” reinforcing the network’s commitment to staying ahead in digital finance. What the Blockchain Registry Means for Banks The new blockchain ledger will act as a secure and transparent transaction log between institutions. It is designed to record, verify, and streamline settlements while enabling smart contracts and supporting both traditional and emerging networks. Importantly, Swift emphasized that the system will operate only with regulated tokenized assets, leaving the choice of tokens to banks and central banks. Industry leaders see the project as a breakthrough. Nigel Dobson, Head of Banking Services at ANZ, called it “a crucial step toward global, instant cross-border transactions.” Bank of America’s A.J. McCray added that a shared ledger would bring transparency and interoperability, key to efficient payments worldwide. The Road Ahead Once the prototype is ready, Swift and its banking coalition will conduct real-world tests. The long-term goal is a multi-currency settlement platform that connects seamlessly with both private and public blockchain networks. This move aligns with Swift’s broader strategy to modernize payment systems while preparing for the rise of digital assets… The post How Swift and 30 Banks Aim to Build the Future of Cross-Border Transactions appeared on BitcoinEthereumNews.com. Key Highlights Swift partners with 30+ global banks to build a shared blockchain ledger New registry aims for faster, transparent, 24/7 global transactions Prototype will test real-world settlements with smart contract features A New Era for Swift and Global Payments International payment network Swift has announced plans to create a blockchain-based ledger for its infrastructure, marking a major step toward transforming how money moves across borders. The initiative, presented at the Sibos conference in Frankfurt, involves more than 30 global financial institutions, including Bank of America, JPMorgan, Deutsche Bank, HSBC, and BNP Paribas. The first stage focuses on developing a proof-of-concept prototype with blockchain developer Consensys, enabling instant, 24/7 cross-border payments. Swift CEO Javier Perez-Tasso described the project as “the next level of payment experience,” reinforcing the network’s commitment to staying ahead in digital finance. What the Blockchain Registry Means for Banks The new blockchain ledger will act as a secure and transparent transaction log between institutions. It is designed to record, verify, and streamline settlements while enabling smart contracts and supporting both traditional and emerging networks. Importantly, Swift emphasized that the system will operate only with regulated tokenized assets, leaving the choice of tokens to banks and central banks. Industry leaders see the project as a breakthrough. Nigel Dobson, Head of Banking Services at ANZ, called it “a crucial step toward global, instant cross-border transactions.” Bank of America’s A.J. McCray added that a shared ledger would bring transparency and interoperability, key to efficient payments worldwide. The Road Ahead Once the prototype is ready, Swift and its banking coalition will conduct real-world tests. The long-term goal is a multi-currency settlement platform that connects seamlessly with both private and public blockchain networks. This move aligns with Swift’s broader strategy to modernize payment systems while preparing for the rise of digital assets…