Global Payments Network Swift joins a dozen benches to test Linea blockchain messages in urgent, secure settlements.
Swift, the world’s largest financial message network, works together with large banks to control blockchain-based messages via Linea, one Ethereum Layer-2 solution developed by Consensys. Institutions such as BNP Paribas and Bny Mellon are involved in the initiative, which also investigates the possibility of a stablecoin-like settlement for future transactions. Experts consider the project to be a step to modernize the interbank payment industry of $ 150 trillion.
Banks explore linea for scalable and secure messages
According to a report that is shared on X, more than a dozen financial institutions participated in the Swift Line Blockchain Pilot. A source within one of the banks said that the project was a possible “technological transformation for the international interbank payment industry”, although the pilot will take months to show real results.
Linea’s ZK-Rollup architecture is the key to the experiment. The system is based on cryptographic evidence to improve privacy and scalability, both of which regards the banking sector as a key to innovation and compliance with the regulations. If they are successful, it could make the settlement process streamlined and remedy the inefficiencies in the current centralized infrastructure of Swift.
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SWIFT Today links more than 11,000 financial institutions together and sends payment instructions, but not the actual funds. The system is based on different intermediaries and outdated rails, which were often delayed and cost extra money. Blockchain-based messages, on the other hand, gives the promise of much faster control and a way to minimize dependence on intermediaries.
Pilot seen as blueprint for future payment systems
The Fast Linea blockchain pilot is an attempt to test whether it is possible to use decentralized solutions that can increase efficiency without endangering legal supervision. By including privacy functionality in its architecture, Linea aims to meet strict compliance requirements and offering institutions with faster transaction functionalities.
Werels in the industry claim that the experiment underlines the adaptation of traditional financial systems to blockchain developments. Analysts point out that the involvement of Swift is a sign of recognition of a change in the payment landscape in which digital assets, settlement sticks, as well as decentralized infrastructure become more prominent.
Responses from the community indicate that if the pilot is successful, it could pave the path for further acceptance of blockchain in cross -border settlements. For banks this is an important chance of reducing costs, risks and increasing transparency. However, challenges still continue to exist with regard to standardization, interoperability and acceptance of regulations around the world.
Experts emphasize that Tokenized settlement is promising, although its success depends on coordinated frameworks between supervisors and financial institutions. The Swift Linea blockchain pilot is therefore just as well a regulating experiment as a technological one.
The implications can go beyond the Swift network. If Linea turns out to be efficient, other financial networks around the world can consider similar blockchain pilots. The initiative could change how banks process trillions of dollars in international payments. Consequently, it indicates a gradual shift to decentralized financing.
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