Core Insights - The SWIFT network is collaborating with Consensys and 30 firms, including major banks, to develop a prototype for real-time 24/7 cross-border payments [1][4] - The proposed ledger will securely log transactions, validate them, and enforce rules via smart contracts [2][3] - SWIFT's core function is messaging, not payment processing, facilitating communication about money movement among financial institutions [3] Industry Impact - SWIFT connects over 11,500 institutions across more than 200 countries, with a daily transaction value of approximately $7.5 trillion [4] - The network processes around 53 million financial messages daily, indicating significant potential for on-chain processing [4] - If 6% of SWIFT's volume were processed on Ethereum, it could double Ethereum's transaction volume, while only 0.51% would be needed to double throughput on Linea [5]