Swift Tokenized Payments
Chainlink Partners With Swift To Connect Banks For Tokenized Payments
Anonymous
Chainlink is developing a way for banks to connect their systems and transaction-signing infrastructure to Swift’s blockchain-based ledger, enabling them to manage smart contracts across Swift’s platform and their own tokenized-deposit ledgers. Under the self-signing model, banks retain control of the keys authorizing transactions, while Chainlink’s Runtime Environment coordinates the workflows and preserves existing approval and security processes. Swift’s ledger is designed to orchestrate 24/7 cross-border payments using tokenized deposits that remain on banks’ balance sheets; final settlement continues through existing systems, rather than being replaced by the ledger. Swift developed the platform with more than 40 financial institutions, and 17 are piloting tokenized-deposit transactions.
Key Points
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Swift’s network serves more than 11,500 financial institutions and corporates across over 200 markets, giving the ledger project access to a broad existing network.
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Chainlink describes its Runtime Environment as offering built-in identity, privacy, access-control and observability tools, and says institutions can connect existing systems onchain without replacing their infrastructure or key-management solutions.
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The Swift-ledger announcement followed Chainlink’s launch of CCIP 2.0, an updated version of its cross-chain interoperability protocol for institutional digital-asset transfers.
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