Chainlink Connects Banks to SWIFT Blockchain Ledger for 17-Bank Pilot
The framework supports tokenized-deposit payments around the clock while banks retain control of transaction-signing keys.
Chainlink has introduced a framework that connects banks to the SWIFT blockchain ledger, with 17 banks preparing a tokenized-deposit pilot across six continents.
The framework uses the Chainlink Runtime Environment to coordinate interactions between bank systems and the ledger. Banks using the self-signing model retain the keys used to authorize transactions instead of transferring them to Chainlink.
The SWIFT blockchain ledger is designed to support tokenized-deposit payments around the clock, including overnight and weekend transactions. Final settlement can continue through existing mechanisms such as real-time gross settlement systems.
The banks preparing the pilot include ANZ, HSBC, Citi, Standard Chartered and UBS. The initiative is aimed at connecting bank payment systems with blockchain-based ledger infrastructure while preserving institutional control over transaction authorization.
