SWIFT Crypto Ledger Targets Settlement Dead Zones With 17-Bank Go-Live
SWIFT's shared ledger built on Hyperledger Besu has reached initial readiness. The ledger enables tokenized deposit transactions across 17 major banks. It targets 24/7 cross-border settlement, addressing settlement dead zones.
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Swift's July 9 announcement caps a nine-month build; pilots span 17 banks on six continents — including Citi, HSBC, UBS and Wells Fargo — with final settlement still on existing rails.
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