Swift to Begin Live Trials for Digital Asset Transactions

Swift to embark on live trials for digital asset and currency transactions with banks in North America, Europe, and Asia starting next year.

Swift is swiftly transitioning from experimentation to real-world application in the realm of digital asset and currency transactions. Beginning in 2025, financial institutions worldwide will utilize Swift’s global platform to conduct pilot transactions for settling digital assets and currencies.

These trials will demonstrate how institutions can use their current Swift connection to seamlessly transact across both traditional and emerging asset classes and currencies.This marks a substantial leap forward from previous experimental efforts, focusing on providing interlinking and orchestration capabilities to support practical, real-world solutions.

Swift to Lead the Way in Global Blockchain Connectivity

Swift’s recent experiments have successfully demonstrated its ability to connect public and private blockchains, interlink central bank digital currencies (CBDCs) at a global level, and integrate diverse digital asset and currency networks.

With these trials, Swift is moving beyond experimentation, aiming to pilot an advanced infrastructure capable of orchestrating digital transactions across various networks for the first time.

This effort will take place in collaboration with Swift’s community next year, marking a pivotal milestone in achieving its vision of offering financial institutions a unified point of access to various digital asset classes and currencies.

Tom Zschach, Swift’s Chief Innovation Officer, emphasized the importance of bridging traditional and digital forms of value, stating, “Swift is in a unique position to facilitate the global coexistence of emerging and established forms of value. Our focus is now on demonstrating this through real-world applications.”

Swift’s Trials to Tackle Fragmentation and Prove Real-World Impact

The upcoming trials aim to address a significant challenge in the digital asset market—the rise of isolated digital platforms or “digital islands” that could slow the adoption of new value forms. Currently, 134 countries are exploring CBDCs, with tokenized assets forecast to grow up to $30 trillion by 2034, according to Standard Chartered and Synpulse. Additionally, a survey by Celent and BNY Mellon revealed that 91% of institutional investors are interested in tokenized assets.

Leveraging Swift’s global network, these trials will interlink various digital and traditional currency platforms, providing a streamlined system for cross-border transactions involving both digital and fiat currencies. This effort is expected to boost the growth and global adoption of this emerging market.

Swift to Ensure Secure, Scalable Infrastructure for the Future

Swift remains committed to enabling its vast network of over 11,500 financial institutions to securely and efficiently support digital assets and currencies. The upcoming trials and collaborative innovations are a crucial step toward achieving global interoperability for new forms of value.

Swift’s network continues to act as a bridge between traditional and digital asset platforms, ensuring end-to-end transparency and real-time access to transaction data as the financial industry evolves.

Swift’s vision is clear: as new forms of value emerge, it will continue to provide its community with the tools to make and track transactions across various assets, all while maintaining the security and resilience that the industry relies on today.

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