Swift to begin live banking trials of digital asset transactions in 2025

Starting next year, Swift said banks in North America, Europe and Asia will begin live testing of digital asset and currency transactions over its global messaging network, which serves more than 11,500 financial institutions.

Swift has previously experimented with blockchain transactions in test environments.

Next year's test, however, will test an advanced version of its infrastructure capable of orchestrating real-world digital asset and currency transactions across networks for the first time, according to a statement from the company on Thursday.

The live tests will leverage Swift's existing global network and interconnect various digital and traditional currency platforms, providing a single system for banks to transact cross-border with digital and fiat currencies, the firm explained.

The tests are designed to demonstrate how financial institutions can transact interchangeably between existing and emerging assets and currencies using their current connection to Swift. “Global financial institutions will have the ability to use Swift’s global platform to conduct pilot transactions for the settlement of digital assets and currencies,” the firm said.

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