The brief

Analyst view

• Blockchain ledger live July 9, 2026, with 17 banks from BNY, Citi, HSBC, MUFG, Standard Chartered, UBS, and others across six continents.
• Banks transfer tokenized deposits 24/7, including nights and weekends, with final settlement through existing infrastructure.
• Built on Hyperledger Besu with Consensys, enabling continuous cross-border movement of tokenized funds.

Technical approach

As reported

Architecture

EVM-compatible blockchain ledger

Built on Hyperledger Besu with open-source EVM compatibility, allowing tokenized deposit transfers across institutions.

Governance

SWIFT runs ledger; banks manage assets

SWIFT operates blockchain infrastructure; banks control custody, keys, and settlement through existing channels.

Settlement

Continuous 24/7 transfer with traditional settlement

Banks transfer tokenized deposits around the clock with final settlement through existing compliance and risk frameworks.