Swift Collaborates with Banks to Enhance Blockchain Ledger System

According to PANews, Swift has announced a collaboration with over 30 global banks to advance the design of a blockchain-based ledger system. This initiative aims to expand existing financial infrastructure to support the large-scale circulation of tokenized assets. Swift stated that the ledger will utilize smart contracts to record and verify transaction sequences, allowing it to operate parallel to current systems. This development seeks to address the fragmentation in digital finance and improve the efficiency of global cross-border payments and asset transfers.