Major Bank Joins Swift’s Initiative for Cross-Border and Tokenised Payments

Swift confirmed that HSBC is among the global banks collaborating to shape its blockchain-based ledger for cross-border payments and tokenised value. Extending its existing infrastructure to support a unified solution that combines blockchain technology with its governance, security and standardisation frameworks.

The initiative signals a structured evolution of Swift’s network as it adapts to tokenisation and distributed ledger integration across global financial markets.

Moreover, the development reflects ongoing experimentation among major financial institutions to modernise settlement rails.

All while maintaining compliance and interoperability within the traditional banking system.

Swift and HSBC’s Collab on a Blockchain-Based Ledger

HSBC is participating in efforts to develop a blockchain-based ledger designed to support cross-border payments and tokenised assets.

The objective is to integrate distributed ledger capabilities into Swift’s global infrastructure without fragmenting standards or governance controls.

Swift stated that the solution will combine blockchain functionality with its existing network strengths. Indeed, this would include identity verification, governance models, security protocols and standardisation.

Therefore, HSBC’s involvement shows the role of systemically major banks in shaping the architecture of tokenised financial infrastructure.

By contributing expertise and operational input, participating banks help ensure interoperability between blockchain environments and existing correspondent banking systems.

Swift has previously conducted blockchain interoperability experiments involving multiple networks and asset types.

The Future of Cross-Border Financial Infrastructure

The collaboration reflects a broader shift in global finance toward tokenisation of assets and programmable settlement.

Indeed, financial institutions are exploring blockchain-based ledgers to reduce settlement friction, enhance transparency, and enable near-real-time value transfer across jurisdictions.

However, large banks continue to prioritise governance, compliance, and security standards. Swift’s model aims to bridge innovation with established regulatory expectations, ensuring tokenised transactions can operate within familiar identity and risk frameworks.

Importantly, by working within Swift’s global network, institutions may avoid the fragmentation risks associated with other blockchain systems.

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