Swift has launched a blockchain-based shared ledger for a tokenized deposit pilot involving 17 banks across six continents, marking its first live use case for the technology.

The pilot includes major institutions such as Citi, HSBC, UBS, BNP Paribas, Standard Chartered, Wells Fargo, BNY, DBS, and MUFG Bank. Swift says the ledger will let banks transfer tokenized deposits around the clock, including overnight and on weekends, while final settlement still happens through existing systems.

The move adds to Swift’s growing push into tokenized finance and follows earlier work with Chainlink and UBS on tokenized fund workflows.