SWIFT to Develop Blockchain-Based Ledger for 24/7 Cross-Border Payments

SWIFT, the dominant global payments network, is revolutionizing cross-border transactions by integrating blockchain technology into its infrastructure. The financial messaging giant announced plans to develop a blockchain-based ledger system that will enable 24/7 international payments, marking a significant shift toward cryptocurrency and DeFi adoption in traditional finance.

This groundbreaking move positions SWIFT at the forefront of the digital asset revolution, potentially competing with blockchain networks like Bitcoin and Ethereum that already facilitate round-the-clock transactions. The blockchain integration represents SWIFT's strategic response to growing pressure from decentralized finance (DeFi) platforms and cryptocurrency payment solutions that offer faster, more efficient cross-border transfers.

The new blockchain-powered system could dramatically reduce settlement times from days to minutes, bringing traditional banking closer to the speed and efficiency of cryptocurrency networks. This development signals mainstream finance's increasing acceptance of distributed ledger technology and could accelerate institutional adoption of digital assets.

For the broader crypto market, SWIFT's blockchain integration validates the technology's potential to transform global finance, potentially boosting confidence in cryptocurrency investments and blockchain-based payment solutions worldwide.