Overview

• More than a dozen major institutions, including BNP Paribas and BNY Mellon, are participating in the multi‑month trial, according to multiple reports.
• The project tests moving SWIFT payment instructions to a blockchain flow that combines messaging and settlement to cut intermediaries, delays, and costs.
• A stablecoin‑style interbank settlement token is under evaluation, with Linea’s zero‑knowledge technology providing transaction confidentiality.
• Participants describe the initiative as early‑stage with designs still under review and no production rollout decided.
• News of the pilot coincided with double‑digit gains in Linea‑linked token prices and renewed scrutiny of competition with Ripple’s cross‑border payment offerings.