Chainlink is working to connect financial institutions to Swift’s blockchain ledger through its infrastructure, marking another step toward integrating traditional banking systems with blockchain-based payment networks. The solution is designed to let banks interact with Swift’s ledger while maintaining control over their own signing infrastructure and internal approval processes.
Chainlink announced the development on September 28, saying financial institutions within Swift’s network will be able to read and write to the Swift ledger through its platform. The initiative is aimed at supporting tokenized deposits and 24/7 cross-border payment workflows without requiring banks to abandon their existing infrastructure.
At the center of the integration is Chainlink Runtime Environment, or CRE. According to Chainlink, CRE coordinates workflows between financial institutions and Swift’s ledger while allowing each institution to retain control of the cryptographic keys used to authorize transactions.
Chainlink CRE Connects Banks to Swift’s Ledger
The self-signing model is intended to address an important issue for banks adopting blockchain infrastructure: maintaining control over transaction authorization. Rather than transferring signing authority to an external network, financial institutions keep their own keys while CRE coordinates the processes required to interact with Swift’s ledger.
Chainlink said the setup allows banks to manage smart contracts on their own ledgers for tokenized deposits as well as interact with the Swift ledger. This could allow institutions to build payment workflows around bank-issued digital deposits while preserving existing security governance and approval structures.
Swift’s blockchain ledger is designed as an orchestration layer for 24/7 cross-border payments using tokenized deposits. The deposits remain on participating banks’ own ledgers and balance sheets, while Swift’s ledger coordinates the movement of funds between institutions.
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Importantly, the Swift ledger does not replace final settlement infrastructure. According to the announcement, the ledger coordinates payment activity before settlement, with final settlement continuing through agreed mechanisms such as real-time gross settlement systems.
This approach allows banks to extend the availability of cross-border payment services beyond traditional operating hours. Overnight and weekend transactions can be coordinated through the ledger while the underlying settlement arrangements remain in place.
Chainlink CEO Sergey Nazarov said the company expects the Swift ledger to play an important role in the development of tokenized deposits and global payments. Chainlink’s role is positioned around providing the infrastructure needed for financial institutions to connect their existing systems and authorization processes to the new ledger.
Swift’s 11,500-Plus Financial Institutions Create a Large Network
Swift announced its blockchain-based shared ledger at Sibos 2025 after developing it with more than 40 financial institutions. The organization said the project moved from concept to activation within nine months, with 17 first-mover institutions putting the ledger through initial tokenized deposit transaction pilots.
The scale of Swift’s existing network is significant for the initiative. Swift says it connects more than 11,500 financial institutions and corporates across more than 200 markets, giving the ledger a potential distribution network if additional institutions adopt its tokenized payment infrastructure.
For Chainlink, the integration adds another institutional use case for CRE as banks increasingly explore blockchain-based deposits, payments and settlement. The technology is being positioned as an orchestration layer capable of connecting different financial systems while allowing institutions to retain their existing operational controls.
The development also expands the broader connection between Chainlink’s infrastructure and traditional financial market systems. Chainlink has previously worked on interoperability and tokenization initiatives involving financial institutions, while Swift has been exploring blockchain infrastructure as part of its efforts to support evolving cross-border payments.
The practical impact will ultimately depend on how many banks move from testing to production use. The September 28 announcement establishes Chainlink’s role in enabling access to Swift’s ledger, but it does not by itself establish the volume or value of transactions that will eventually run through the system.
For the Chainlink and broader digital asset communities, the development is significant because it places blockchain infrastructure directly inside a payment network used by thousands of financial institutions. If tokenized deposits and 24/7 cross-border payments continue moving toward commercial deployment, interoperability between bank systems and shared ledgers could become an increasingly important part of financial infrastructure.
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