SWIFT runs new shared ledger on Hyperledger Besu with 25+ banks live by June, moving tokenized deposits on permissioned network without BTC or public tokens.

According to the source, SWIFT is collaborating with ConsenSys and several major banks on an Ethereum-based prototype for real-time cross-border payments, indicating continued testing of blockchain rails for interbank messaging. Source: the source. For traders, direct on-chain demand for ETH may be limited if the build uses permissioned Ethereum stacks such as ConsenSys Quorum or Hyperledger Besu that can operate without public mainnet gas fees, implying minimal immediate impact on Ethereum mainnet fees. Source: ConsenSys Quorum documentation; Hyperledger Besu documentation. Context: SWIFT previously demonstrated interoperability for tokenized assets across public and private chains with more than a dozen financial institutions via Chainlink’s CCIP, reinforcing an enterprise focus on interoperability rather than retail crypto settlement. Source: SWIFT 2023 tokenization experiments. Near term, monitor ETH spot volumes, options implied volatility, and ETH/BTC relative strength around any SWIFT or ConsenSys milestone updates, and watch for explicit mentions of public mainnet settlement in official communications. Source: SWIFT communications; ConsenSys updates.