SWIFT Blockchain Shared Ledger: status and timeline

SWIFT Blockchain Shared Ledger

Enable continuous cross-border settlement through tokenized deposits while preserving traditional compliance frameworks.

DeployStage 4 of 5

Live since July 9, 2026, with 17 banks transferring tokenized deposits 24/7 across six continents.

Updated 19 Aug 2026Checked 11 Oct0 updates this week

Milestones

Next · Scale to additional institutions and corridors

Design phase completed30 Mar 2026Complete.
MVP development underway1 Mar 2026Complete.
Blockchain ledger goes live9 Jul 2026Complete.
First live transaction: HSBC and Standard Chartered cross-border19 Aug 2026Complete.
Scale to additional institutions and corridorsTarget 2027Not yet reached.

Most important updates

Upcoming

2027Scale to additional institutions and corridors (next)

Current obstacles

Regulatory coordination across jurisdictionsDifferent countries have varying rules for blockchain-based settlement and tokenized assets, requiring coordination.
Integration with legacy banking systemsConnecting blockchain infrastructure with decades-old banking systems while ensuring compatibility and security.

Physics limits

Settlement finality depends on existing infrastructureWhile blockchain transfers are instant, final legal settlement still depends on traditional payment systems with their inherent delays and cutoff times.
Regulatory approval is jurisdiction-specificEach country must approve tokenized deposits and blockchain settlement separately, limiting rapid global scaling.

How it works

3 parts

Ledger

Shared blockchain ledger for deposits

The system maintains a shared ledger where banks record tokenized deposits, creating a continuous record of transactions.

Transfer

Peer-to-peer bank transfers

Banks transfer tokenized deposits directly to each other around the clock, including nights and weekends when traditional systems are closed.

Settlement

Traditional final settlement

While the blockchain enables continuous transfer, final settlement occurs through existing SWIFT infrastructure and payment rails.

Spec sheet

Spec	SWIFT Blockchain Shared Ledger
Participating banks in pilot	17^R (reported)
Geographic coverage	6 continents^R (reported)
Settlement hours	24/7 including weekends^R (reported)

^R reported by the company

Update log

2 updates

Wed 19 Aug

Major: HSBC and Standard Chartered execute first live cross-border tokenized deposit transaction on SWIFT blockchainPressTest

Thu 9 Jul

Major: SWIFT blockchain ledger goes live with 17 banks for 24/7 tokenized deposit transfersPressCommercial

About SWIFT

The team behind SWIFT Blockchain Shared Ledger

SWIFT

Global bank messaging, tokenized payments

Global financial messaging network founded in 1973. In 2026, SWIFT launched its blockchain-based shared ledger with 17 major banks for 24/7 tokenized deposit transfers using Hyperledger Besu.

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.

swift.com (opens swift.com)Company profile →

Founded: 197353 yrs
Headquarters: Belgium
Status: Non-profit
Valuation: non-profit
Works in: CryptoStablecoins & tokenization
Coverage: 1 program · 2 updateslatest 19 Aug 2026checked 11 Oct
Partners: Consensys (opens consensys.io)Citi (opens citigroup.com)HSBC (opens hsbc.com)Standard Chartered (opens sc.com)

Spec

SWIFT Blockchain Shared Ledger

Participating banks in pilot

17^R (reported)

Geographic coverage

6 continents^R (reported)

Settlement hours

24/7 including weekends^R (reported)