SWIFT to Launch Blockchain-Based Real-Time Cross-Border Payment Scheme in 2026

• SWIFT’s 2026 Payment Scheme targets faster, predictable cross-border payments with full-value delivery and transparent fees.
• Over 40 global banks are joining to scale near-instant payments for consumers and SMEs using enforceable rules.
• Blockchain trials with stablecoins, tokenized deposits, and Chainlink support interoperable settlement without replacing bank systems.

SWIFT has announced plans to launch a new cross-border payment scheme in 2026, aiming to deliver fast, predictable, and transparent payments for consumers and SMEs. The initiative involves over 40 global banks and seeks to establish clear fees, foreign exchange rates, and end-to-end traceability. An initial MVP is scheduled for H1 2026.

According to Swift, the new Swift Payment Scheme will set enforceable rules for cross-border transactions. The program guarantees full-value delivery, ensuring recipients receive the intended amount.

Thierry Chilosi, Chief Business Officer at Swift, said the system targets faster, more consistent payments while maintaining predictability for users. The scheme leverages Swift’s existing resilient network, integrating upgraded platforms to support near-instant payments where systems allow.

Collaboration with global banks is intended to scale the system across countries, corridors, and payment types. Consumers and SMEs will gain clear visibility on fees, foreign exchange rates, and delivery timelines.

Swift has conducted multiple interoperability trials integrating blockchain and traditional banking systems. These included tokenized bond settlements with BNP Paribas, Intesa Sanpaolo, and Société Générale–FORGE. Trials demonstrated delivery-versus-payment, interest disbursement, and redemption using both fiat and stablecoins.

Stablecoins like EURCV and tokenized deposits were both used for on-chain settlements. While stablecoins represent third-party-issued digital fiat, tokenized deposits remain liabilities of the issuing bank. Swift’s approach allows regulated banks to adopt digital asset settlements without redesigning core banking workflows.

Swift is now developing a blockchain-based shared ledger with more than 30 banks. The ledger will enable 24/7 real-time cross-border payments and coordinated settlement across institutions. Pilots on Linea, an Ethereum zk-rollup network, tested on-chain messaging, settlement flows, and stablecoin-like tokens for interbank transfers.

Chainlink played a key role in interoperability, connecting private and public blockchains while preserving ISO 20022 messaging standards. Swift’s shared ledger aims to coordinate transactions and compliance processes, allowing banks to scale tokenized asset markets without abandoning existing infrastructure.