SWIFT Just Launched Its Own Blockchain Ledger with 17 Major Banks — Here's What That Means for Crypto
(85 days ago) · 1 source · Summarized by CryptoBipto
SWIFT, the global messaging network that connects over 11,000 financial institutions, has launched a blockchain-based ledger and initiated a tokenized deposit pilot program involving 17 banks. The move signals that traditional finance's backbone infrastructure is actively embracing blockchain technology for real-world banking operations.
WHY IT MATTERS
Think of SWIFT as the postal service of the banking world — it's how banks send messages to each other to move money across borders. Almost every major bank in the world uses it. Now imagine that postal service saying, 'We're going to start using blockchain technology instead of our old system.' That's essentially what's happening here. 'Tokenized deposits' means taking the money you have in a regular bank account and representing it as a digital token on a blockchain — kind of like turning a paper dollar into a digital coin that a computer can move around instantly. When the biggest player in global banking starts doing this with 17 banks, it's a strong signal that blockchain isn't just for crypto enthusiasts anymore — it's becoming part of how the entire financial system works.
Read the full analysis with a CryptoBipto membership
Members can read the full analysis of every story, not just the headline.
Get startedSOURCES
- Source
RELATED
Learn the concepts behind this
Clear explanations of the subjects this article touches, with every term defined.
- How are institutions and regulators approaching crypto?What institutional adoption means in crypto, how spot ETFs and corporate treasury holdings work, and how regulation shapes what is available to ordinary users.
- What are stablecoins, NFTs and tokenized assets?What stablecoins are and how they hold a steady value, what an NFT represents, and what it means to tokenize a real-world asset.