WATCH: Global Banks to Trial Digital Asset Transactions via Swift Network in 2025

In a  move towards integrating digital assets into the mainstream financial system, Swift announced today that banks across North America, Europe, and Asia will use its network to conduct live trials of digital asset and currency transactions starting in 2025.

The trials follow Swift’s successful demonstrations of transferring tokenized value across various blockchain platforms and interlinking central bank digital currencies (CBDCs) globally. The initiative aims to provide financial institutions with a single access point to multiple digital asset classes and currencies, potentially revolutionizing how value is transferred globally.

Initial use cases will focus on payments, foreign exchange, securities, and trade, enabling multi-ledger Delivery-versus-Payment (DvP) and Payment-versus-Payment (PvP) transactions. This move comes as 134 countries are exploring CBDCs, and the tokenized asset market is projected to reach $16 trillion by 2030.

Tom Zschach, Chief Innovation Officer at Swift, emphasized the importance of seamlessly integrating digital assets with traditional forms of money for global success. Swift’s unique position in the financial system allows it to bridge emerging and established forms of value, potentially solving the challenge of fragmentation in the rapidly growing digital asset landscape.