TLDR
- SWIFT pilots blockchain messaging with Linea, aiming to modernize payments.
- SWIFT teams with Linea for faster, cheaper blockchain interbank settlement.
- Blockchain enters SWIFT: Pilot tests zkEVM tech with global banking giants.
- SWIFT takes on Ripple, launching Linea-based onchain pilot with big banks.
- SWIFT enters the blockchain race with zkEVM-powered Linea pilot program.
The global financial messaging network SWIFT has launched a blockchain-based pilot using Linea, an Ethereum Layer 2 platform. This move signals a new strategic direction for SWIFT as it begins testing onchain messaging and settlement systems. The pilot involves major banks such as BNP Paribas and BNY Mellon and could redefine how interbank communication operates.
SWIFT Deploys Linea Blockchain in Messaging Pilot
SWIFT has integrated Linea to explore blockchain-based alternatives to its current legacy infrastructure. The testing phase includes more than a dozen global financial institutions seeking faster, cheaper, and more transparent systems. SWIFT’s shift to onchain solutions highlights its aim to stay competitive as blockchain reshapes international payments.
The project uses Linea’s zkEVM technology, which supports Ethereum-compatible apps with privacy and speed. It also enables real-time transaction tracking while reducing settlement friction. SWIFT’s current messaging system relies on intermediaries and is considered slow and expensive by modern standards.
The pilot combines messaging and settlement in one blockchain transaction, removing several layers of delay and cost. SWIFT gains scalability and compliance-focused privacy features. These factors align with regulatory demands while encouraging innovation in institutional finance.
Ripple Faces Pressure as SWIFT Pilots Blockchain Shift
Ripple has long offered blockchain-based cross-border payments, aiming to replace SWIFT with cheaper and faster options. However, SWIFT’s pilot with Linea poses a significant challenge by offering banks their own blockchain-based alternative. This shift could limit Ripple’s appeal to institutions that already rely on SWIFT’s infrastructure.
SWIFT also plans to integrate an interbank settlement token similar to a stablecoin. This initiative expands beyond messaging to include value transfer, which has been Ripple’s stronghold. As a result, the blockchain payments race between Ripple and SWIFT intensifies.
Although Ripple remains active, recently demoing its own stablecoin product, SWIFT’s involvement with established banks gives it a strong foothold. The two platforms now compete directly in a growing market for regulated, blockchain-based settlement networks. The outcome may redefine the structure of global payment rails.
Linea Adds Privacy and Scalability to SWIFT Blockchain Vision
Consensys developed Linea to bring Ethereum scalability using zk-rollup technology and advanced cryptographic proofs. These features meet banks’ dual need for data privacy and operational transparency. Since its July 2023 launch, Linea has supported cost-effective, secure Ethereum Layer 2 transactions.
SWIFT selected Linea because it prioritizes compliance without sacrificing innovation or efficiency. Privacy remains a key concern for institutions handling sensitive financial data. With Linea’s architecture, SWIFT addresses those concerns while transitioning toward distributed ledger technology.
The use of zkEVM ensures compatibility with Ethereum apps, making integration smoother for institutions already exploring blockchain. SWIFT now has the tools to build a modernized system that blends security, privacy, and speed. As development progresses, the platform may evolve into a long-term blockchain foundation for global finance.
