Chainlink announces plan to connect financial institutions to Swift's blockchain ledger through its platform.
RWA & Tokenization ·
Chainlink has unveiled plans to enable financial institutions to access Swift's blockchain ledger through its platform. The initiative represents a bridge between legacy banking infrastructure and blockchain-based settlement, allowing banks to participate in Swift's tokenized cross-border payment pilots via Chainlink's oracle and connectivity services.
Swift's modernization effort includes deployment of a blockchain ledger with 17 banks participating in initial pilots for tokenized cross-border payments, and the network aims to expand to 25+ banks conducting live transactions by June with 24/7 settlement capability. The integration leverages Swift's updated ISO 20022 messaging standards alongside Chainlink's ability to connect traditional financial messaging to onchain settlement infrastructure. AWS has separately open-sourced architecture designed to bridge Swift's financial messaging standard directly to blockchain-based settlement through Chainlink.
The scope of institutions adopting these hybrid systems remains in early stages, with pilot participation numbers indicating gradual rather than rapid deployment. Unclear is whether Chainlink's role will extend beyond connection services to include broader oracle functionality, settlement routing, or other infrastructure layers as the pilots mature into production systems.