SWIFT Launches Blockchain Ledger as Stablecoins and Tokenized Assets Challenge Cross-Border Payments

SWIFT currently routes about $5 trillion in cross-border settlement transactions each day across 11,500 institutions in about 200 countries and territories. According to Odaily, the network still charges about 1% to 4% per transaction, and settlement usually takes one to five business days. SWIFT launched a blockchain ledger last month, and HSBC and Standard Chartered later completed the first real-time transaction through the system, reducing settlement time to seconds. BNY expects the stablecoin and tokenized cash market to reach $3.7 trillion by 2030, while Citi expects the tokenized securities market to rise to $5.5 trillion in the same period.