SWIFT launches 24/7 prototype on blockchain: 30 banks in the race

SWIFT revolutionizes cross-border payments with groundbreaking blockchain prototype, partnering with Consensys to launch 24/7 distributed ledger technology involving over 30 major financial institutions across 16 countries. This cryptocurrency infrastructure development, announced at Sibos Frankfurt on September 29, 2025, represents a massive shift toward decentralized finance (DeFi) adoption in traditional banking.

The blockchain-powered payment system aims to expand globally, targeting over 200 countries and territories for seamless international transactions. Technical demonstrations revealed crucial integration requirements and operational insights from participating banks, emphasizing ISO 20022 standard compliance for large-scale cryptocurrency adoption.

This SWIFT blockchain initiative signals growing institutional acceptance of distributed ledger technology, potentially impacting Bitcoin and broader cryptocurrency markets. The prototype addresses traditional banking limitations by enabling continuous cross-border payments, eliminating weekend and holiday restrictions that plague current financial systems.

Industry analysts highlight this development as a pivotal moment for cryptocurrency mainstream adoption, as major banks embrace blockchain technology for real-world applications. The successful implementation could accelerate digital asset integration across global financial networks, marking a significant milestone in the evolution from traditional to decentralized finance systems.