SWIFT’s choice to add a distributed blockchain ledger to their 50-year old financial system has caught the attention of the industry. With the ISO 20022 certification going on, DLT-designed blockchains like Ripple’s XRP Ledger, Hedera Hashgraph (HBAR) & Stellar Lumens (XLM) covers all the bases.
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However, the future of finance might be a merge of multiple digital ecosystems – a truly interoperable money system that moves funds in an immediate manner.
To make this a reality, SWIFT just completed their interoperability pilot in collaboration with BNP Paribas, HSBC Bank, Intesa Sanpaolo & Societe Generale – FORGE.
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This is of particular importance to Ripple (XRP) holders, as Ripple’s network includes some of the big banking names that participated in this digital asset pilot. The ISO 20022-based interoperability allows the examination of multiple stablecoins, including EURCV, Circle’s USDC & Ripple’s RLUSD.
HSBC, a British universal bank, has adopted Metaco Technology – a start-up acquired by Ripple back in 2023.
Presently, Metaco runs the crypto custody services for HSBC, providing enterprise-grade custody for tokenized assets via Metaco’s Harmonize platform.
SWIFT’s aim here is to make cross-border transfers a single, coordinated & smooth experience between the blockchain & traditional finance. This also wasn’t the first try. Previously, SWIFT tested XRP, HBAR & Chainlink (LINK) for bridging tokenized assets & remittance.
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30 banking institutions participated in the pilot, including HSBC, Northern Trust & The Reserve Bank Of Australia, among many others.
“With this series of successful trials now completed, we’re now focused on adding a blockchain-based ledger to our technology infrastructure”, – read the creme-de-la-creme European financial conglomerate’s statement on March 10, 2026. With XRP plugged into SWIFT via HSBC, this third-party acknowledgment could eventually lead to a direct line.
For now, what matters is the fragmented digital asset environment driven by tokenization. That includes various Real World Assets (RWAs) like real estate, foreign bonds, equities, commodities & beyond. Acting as a neutral orchestrator, SWIFT aims to connect these fragmented ecosystems into one, all for the greater good of efficiency & innovation.
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SWIFT has completed trials demonstrating how its infrastructure can orchestrate tokenized asset transactions across multiple blockchain platforms and traditional systems.
The latest interoperability trial included BNP Paribas Securities Services, Intesa Sanpaolo, and Societe Generale – FORGE. Broader trials involved HSBC and Ant International for blockchain interoperability.
SWIFT plans to integrate a blockchain-based shared ledger into its infrastructure for real-time, 24/7 cross-border payments, collaborating with over 30 big banks worldwide.
