The new system allows for the movement of tokenised funds 24 hours a day, including weekends, bridging the gap between traditional banking and programmable finance. By enabling interoperability between in-house tokenised payment systems, the initiative aims to satisfy growing institutional demand for digital asset integration while maintaining the rigorous compliance and operational controls required by global regulators. The initial cohort of participating institutions also features UBS, BNP Paribas, BNY, Standard Chartered, MUFG, ANZ, DBS, and Lloyds.

This launch represents the first practical application of the ledger technology Swift unveiled last year. Beyond immediate payment efficiency, the infrastructure could facilitate future innovations such as agentic commerce, where automated systems execute transactions on behalf of users. As Swift processes the equivalent of world GDP every few days across more than 200 countries, this transition reflects a broader industry pivot toward tokenising deposits and assets on digital ledgers. The development serves as a direct response to the rise of stablecoin issuers like Tether and Circle, which currently bypass traditional banking intermediaries to provide instant, cross-border transfers.