- Chainlink is working to connect financial institutions to Swift’s blockchain ledger through its Chainlink Runtime Environment (CRE), while banks retain control of their transaction-signing keys.
- Swift’s ledger is designed to support 24/7 cross-border payments using tokenized bank deposits, with 17 financial institutions preparing to pilot live transactions.
Chainlink is working to enable financial institutions to connect their existing systems and transaction-signing infrastructure directly to Swift’s blockchain-based ledger through the Chainlink Platform, opening a path for 24/7 cross-border payments using tokenized bank deposits.
Chainlink announced the initiative on September 28, saying its Chainlink Runtime Environment (CRE) will coordinate workflows between financial institutions and Swift’s ledger. Banks will retain control of the private keys used to authorize transactions rather than handing that authority to Chainlink.
Banks to Keep Control of Transaction Signing
The setup is designed to allow banks to use their existing security and approval processes while connecting to Swift’s blockchain infrastructure. CRE handles the workflow coordination, while financial institutions continue to control their transaction-signing keys.
TODAY: Chainlink announced it is working to enable financial institutions to connect to @swiftcommunity’s blockchain ledger through the Chainlink platform.
— Chainlink (@chainlink) September 28, 2026
Swift moves the equivalent of the world's GDP roughly every three days ⬇️ pic.twitter.com/ntIHTlOwH3
Swift’s ledger is designed to coordinate 24/7 cross-border payments using tokenized deposits. The deposits remain on participating banks’ own ledgers and represent bank-issued money. Swift’s ledger coordinates the movement of funds between institutions, including during nights and weekends, before final settlement through existing mechanisms such as real-time gross settlement systems.
Swift said in July that its ledger had moved into initial use, with 17 financial institutions across six continents preparing to pilot live tokenized-deposit transactions. The broader initiative was developed with more than 40 financial institutions, while Swift’s network connects more than 11,500 financial institutions and corporates across more than 200 markets.
The ledger uses an EVM-compatible architecture based on Hyperledger Besu and is operated by Swift as an orchestration layer for transaction workflows and funding commitments. Banks retain authority over their keys, assets, funding and final settlement arrangements.
The Chainlink initiative comes as financial institutions continue expanding work around tokenized deposits and on-chain payments. Chainlink also launched CCIP 2.0 on September 28, aimed at providing institutional interoperability across public and private blockchains.
The latest announcement does not provide a specific date for a full rollout of the Chainlink-Swift connection across participating banks.
