SWIFT and Chainlink are creating a blockchain platform for the banking sector.
Date: 2025-10-01 Author: Oliver Abernathy Categories: BLOCKCHAIN
SWIFT announced the launch of an innovative blockchain-based platform developed jointly with Chainlink. This step is the culmination of a long-term collaboration and two years of research into digital assets.
The project is focused on processing corporate events in the financial industry. The pilot program involves 24 leading organizations, including DTCC, Euroclear, UBS, and Wellington Management. The system relies on artificial intelligence to extract data from complex documents, which are then verified by network participants.
After verification, the information is converted into ISO 20022 message format and transmitted through the SWIFT infrastructure. Chainlink simultaneously ensures the distribution of the same data to public and private blockchains. Tests have demonstrated near-100% accuracy and support for multilingual formats, including Chinese and Spanish.
The platform's primary goal is to create a single, reliable source of corporate event information, equally accessible to both smart contracts and traditional financial systems.
The key advantage of the new solution is that banks can leverage SWIFT's existing standards and infrastructure to interact with blockchain networks. This reduces implementation costs and simplifies the transition to tokenized asset transactions.
The partnership between SWIFT and Chainlink began in 2016, when a smart contract for bonds was first demonstrated that received data from oracles and transmitted payment messages via the SWIFT network.
Since then, the collaboration has evolved: the companies have implemented a number of successful projects, including cross-chain transfers of tokenized assets and settlements for tokenized funds using traditional currency.
In September 2025, SWIFT took a major step toward decentralization by implementing a blockchain-based distributed ledger. The new collaboration with Chainlink cements the company's strategy of integrating traditional finance and Web3 technologies, paving the way for the widespread adoption of tokenized assets in banking.
