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

Swift, the financial messaging provider, today announced it is working with Consensys and a consortium of global banks to add a blockchain-based shared ledger to its technology stack. In a press release, Swift said that, unlike its traditional role as a communications network, this move into a shared ledger will allow it to record, sequence, and validate financial transactions directly, creating a backbone for tokenized value exchange between institutions. Global Banks Join Early Design Phase Work is ...