Swift will add a blockchain ledger to its infrastructure to enable global financial institutions to achieve 24/7 cross-border payments.

BlockBeats News, September 29th, according to Bloomberg, the Society for Worldwide Interbank Financial Telecommunication (Swift) announced on Monday that it will add a blockchain-based ledger to its infrastructure. The work to design and build this ledger has now begun, in collaboration with over 30 global financial institutions including JPMorgan Chase, HSBC Holdings, Bank of America, and Deutsche Bank. The initial prototype will focus on real-time, 24/7 cross-border payments and will be built using technology from ConsenSys, a US-based blockchain software company led by Ethereum co-founder Joseph Lubin.