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SWIFT partners with Consensys to build a blockchain settlement system, aiming to boost real-time cross-border payments, compliance, and financial transparency. The Society for Worldwide Interbank Financial Telecommunication (SWIFT) has announced a partnership with Ethereum ecosystem developer Consensys to build a blockchain-based settlement system. The partnership, announced Monday, is backed by more than 30 financial institutions around the world. Its main objective is the development of a new infrastructure for cross-border real-time payments around the clock, with a conceptual prototype developed by Consensys as a starting point. SWIFT Launches Blockchain Ledger for Real-Time Payments This is SWIFT’s most important step into blockchain, for its current financial messaging platform is about to expand to a virtual reality. The ledger records transactions between organizations in real time. Smart contracts monitor it and enforce transaction rules. The goal of this is to enhance the consistency, scalability, and efficiency of regulated tokenized value transfers across financial ecosystems globally. Related Reading: SWIFT Partners with Banks to Pilot Linea Blockchain Messaging | Live Bitcoin News Consensys will take the lead in developing the prototype in the first phase of the project. Swift will then set out future work phases together with the financial institutions involved. The system will support fiat payment networks. In addition, it will connect with new DLT networks being developed. This will help the banks to smoothly adapt as digital settlement becomes a popular method in the financial markets. The blockchain ledger is being presented as a medium to bring various payment systems together. Swift: the protocol has confirmed that it will offer orchestration allowing synchronisation of transactions between public and private blockchain networks, and ties to the fiat rails. Moreover, this integration aims to bring efficiency to a wide range of applications, from tokenized assets to immediate cross-border settlements. Blockchain Settlement Set Up…

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Filed under: News - @ September 30, 2025 2:24 am