SWIFT is set to launch digital asset trials in 2025, with banks across North America, Europe, and Asia participating. These trials will experiment with transactions involving multiple digital currencies and assets. The goal is to provide unified access to various digital asset classes and currencies for financial institutions.
SWIFT aims to address the fragmented digital asset landscape, referring to it as a “complex web of digital islands.” The trials will focus on payments, foreign exchange, and securities, enabling seamless transactions between digital assets and traditional fiat currencies.
According to SWIFT, its unique position allows it to interlink these disparate networks, fostering smoother transactions on a global scale.
Chief Innovation Officer Tom Zschach emphasized that SWIFT wants to make and track transactions across all types of assets. The organization has been actively involved in blockchain, tokenization, and central bank digital currencies (CBDCs) and plans to continue exploring new technologies to bridge traditional and emerging forms of value.