Chainlink to Connect Banks to Swift’s Blockchain Ledger
Chainlink says it is working to enable financial institutions to connect their systems and key signing infrastructure to Swift’s blockchain ledger through the Chainlink platform. According to the company, the solution centres on a self-signing model for financial institutions enabled through the Chainlink Runtime Environment (CRE).
Under the model, institutions retain control of the keys used to authorise transactions, while CRE orchestrates workflows connecting them to Swift’s ledger. Chainlink says this enables banks to adopt 24/7 tokenised payment workflows while preserving their existing security governance, approval processes and operating models; banks will also be able to manage their use of smart contracts on both their own ledgers for tokenised deposits and the Swift ledger.
The release describes Swift’s ledger as an orchestration layer for 24/7 cross-border payments using tokenised deposits that remain on banks’ own ledgers and balance sheets. Orchestration takes place before final settlement, which continues through agreed mechanisms such as real-time gross settlement systems.
Sergey Nazarov, CEO, Chainlink Labs, said:
“I’m very excited about the Swift ledger and what it will mean for tokenized deposits, as well as where global payments goes next. We are thrilled to be supporting the Swift ledger as more banks seek to join it and need a technology partner that can help them launch tokenized deposit capabilities and properly connect to the Swift ledger to gain the full benefit of its large network of users.”
According to the release, Swift announced the shared ledger at Sibos 2025; it was designed with more than 40 financial institutions and went from concept to activation within nine months. Seventeen institutions are piloting tokenised deposit transactions on it.
