SWIFT teams up with banks to create instant cross-border payment system

Business Sep 29, 2025

SWIFT, along with over 30 big banks like JPMorgan and HSBC, are developing a new blockchain-based system to make cross-border payments happen instantly—no more waiting days for your money to move.
They're also planning to support digital currencies like stablecoins and central bank digital currencies (CBDCs), making international transfers faster and more flexible than ever.

Why it matters

This move brings together traditional banking giants and cutting-edge tech, aiming to keep SWIFT relevant as digital payments take off worldwide.
With nearly 90% of central banks exploring their own digital currencies currently, this project could shape how we all send money across borders—anytime, anywhere.