SWIFT Goes Onchain as Consensys Builds Prototype – 30 Banks Eye 24/7 Settlement

**SWIFT Embraces Blockchain Technology: Major Banking Network Tests 24/7 Cross-Border Payments with 30+ Financial Institutions**

SWIFT, the global banking messaging network, has successfully partnered with Consensys to develop a groundbreaking blockchain-based prototype for real-time cross-border payments. The innovative shared-ledger system has undergone extensive testing with over 30 banks across 16 countries, demonstrating the cryptocurrency sector's growing influence on traditional finance.

This revolutionary blockchain prototype enables 24/7 settlement capabilities, addressing long-standing limitations in international banking transfers. The system showcases impressive interoperability features, seamlessly integrating with both public and private blockchain networks while supporting Central Bank Digital Currencies (CBDCs), tokenized assets, and commercial bank money.

The successful testing represents a significant milestone for cryptocurrency adoption in institutional banking, potentially transforming how financial institutions process cross-border transactions. Unlike traditional SWIFT messaging that requires business hours processing, this blockchain-powered solution offers continuous operation, matching the always-on nature of Bitcoin and other cryptocurrency networks.

Financial industry feedback gathered during the Sibos conference in Frankfurt has been positive, signaling potential widespread adoption of blockchain technology in mainstream banking infrastructure and accelerating the convergence of traditional finance with DeFi innovations.