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2h ago

SWIFT Pilots On-Chain Messaging and Settlement on ConsenSys’ Linea, Reports Say

The early multi-month test reportedly includes major banks, exploring a privacy-preserving interbank token.

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SWIFT developing interbank token and onchain messaging with Linea
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Overview

  • Industry reports say more than a dozen institutions are involved, with named participants including BNP Paribas and BNY Mellon.
  • The pilot moves payment instructions on-chain and pairs messaging with settlement to cut intermediaries and enable real-time traceability.
  • A stablecoin-like interbank settlement token is being explored within the project, with any issuance still under consideration.
  • Linea was reportedly chosen for its zk-rollup confidentiality and Ethereum compatibility that align with banks’ compliance needs.
  • The LINEA token rose roughly 10–14% after the reports, and there has been no official SWIFT announcement as the multi-month technical effort gets underway.