Swift Activates Blockchain Ledger for Tokenised Deposit Pilot with 17 Banks

Swift launched its blockchain-based ledger infrastructure for tokenised deposit pilot transactions in July 2026, involving 17 banks spanning six continents. The pilot represents Swift's effort to position its existing interbank messaging network as a bridge between traditional financial infrastructure and emerging tokenised asset ecosystems. Participating banks tested live tokenised deposit transactions using Swift's new infrastructure layer.

The initiative aims to enable seamless interoperability between tokenised and traditional banking rails. This move is significant for the BaaS and embedded finance landscape as it could allow fintechs and platforms to access tokenised deposit capabilities through existing Swift-connected banks. The pilot's global scope across six continents demonstrates broad institutional interest in tokenised deposits.

Specific financial terms and transaction volumes from the pilot were not disclosed. The project positions Swift as a critical middleware layer in the evolving tokenised banking infrastructure.