Cosmos Enables Banks' Participation in Swift's Blockchain-Based Ledger for Continuous Cross-Border Payments
Cosmos has introduced the Tokenization Suite to help banks connect their core ledgers to blockchain environments, including Swift’s ledger. This integration supports use cases like continuous cross-border payments and real-time treasury management by synchronizing with existing banking systems such as Fiserv and Temenos. Swift's new blockchain-based shared ledger allows for 24/7 secure fund transfers between institutions while maintaining tokenized deposits on banks' balance sheets. Cosmos accelerates integration, interoperability across networks, and future engagement with correspondent banks to expand participation in the pilot program led by Swift. The initiative involves over 17 financial institutions piloting tokenized deposit transactions using a minimum viable product developed alongside more than 40 global partners. This builds on Swift's extensive network of over 12,500 institutions across 200 markets.
Topics: banking infrastructure blockchain cross-border payments tokenization