SWIFT to Launch Cryptocurrency and Token Trading in 2025

The international settlement system SWIFT is ready to start processing transactions with cryptocurrencies and tokenized assets in 2025, Kommersant writes. The tests, which began in 2021, demonstrated SWIFT's ability to integrate private and public blockchains, as well as link central bank digital currencies with traditional settlement systems.

SWIFT Chief Innovation Officer Tom Shah noted the importance of the seamless coexistence of digital assets and traditional money for the global success of new financial technologies.

The trials will cover payments and securities settlements, but details about the participants in the trials in 2025 have not yet been disclosed. Deutsche Bank, HSBC, NatWest, Santander and other banks have previously participated in SWIFT experiments.