SWIFT has announced plans to launch a blockchain-based cross-border payment scheme in 2026, aiming to provide fast, predictable, and transparent payments for consumers and SMEs. The initiative involves over 40 global banks and will establish clear fees, foreign exchange rates, and end-to-end traceability. An initial MVP is scheduled for the first half of 2026. The new SWIFT Payment Scheme will set enforceable rules for cross-border transactions, ensuring full-value delivery to recipients. The system leverages SWIFT's existing network, integrating upgraded platforms to support near-instant payments. Collaboration with global banks aims to scale the system across various countries and payment types, offering consumers and SMEs clear visibility on fees and delivery timelines. SWIFT has conducted blockchain trials with stablecoins and tokenized deposits, demonstrating interoperability with traditional banking systems. A blockchain-based shared ledger is being developed with over 30 banks to enable 24/7 real-time cross-border payments. Chainlink supports interoperability, connecting private and public blockchains while maintaining ISO 20022 messaging standards.