SWIFT и ConsenSys запускают блокчейн-реестр для революции в трансакциях Translation: SWIFT and ConsenSys Launch Blockchain Ledger to Revolutionize Transactions

The financial messaging network SWIFT is set to integrate a blockchain-based distributed ledger into its framework.

This initiative will emphasize real-time, round-the-clock cross-border payments. SWIFT plans to develop a ledger based on a conceptual prototype created in collaboration with ConsenSys.

The platform is designed for secure transactions involving regulated tokenized assets and will utilize smart contracts to document and validate operations. The solution aims to ensure compatibility with both existing and emerging financial systems while adhering to SWIFT’s compliance standards.

SWIFT is working with over 30 financial institutions to gather feedback and support the implementation process. These institutions include Banco Santander, Bank of America, BNP Paribas, HSBC, and JPMorgan.

The press release did not disclose specific technical details of the partnership. However, earlier reports have indicated that SWIFT is testing the transition of its system to an on-chain setup using the L2 solution Linea developed by ConsenSys.

SWIFT’s CEO Javier Pérez-Tasso mentioned that the concept of the ledger “paves the way” for elevating payment processes. According to him, the platform is central to the industry’s digital transformation.

The company will also introduce client solutions for seamless transactions between private and public networks.

Qatar National Bank (QNB) has begun utilizing the Kinexys blockchain platform from JPMorgan for processing corporate payments in Qatar, as reported by Bloomberg.

This new system enables cross-border payments to be conducted 24/7. QNB’s Executive Vice President Kamel Mouris referred to the development as “a treasurer’s dream.” He stated that the bank will be able to ensure transactions are completed within two minutes.

The daily transaction volume on Kinexys is approximately $3 billion, a portion of JPMorgan’s total daily payment volume of $10 trillion.

Notably, in August, Teucrium’s CEO Sal Gilbertie suggested the possibility of competition between Ripple and SWIFT.