SWIFT as a fundamental pillar of international payments faces new challenges in the digital era. According to Bitcoin Sistemi, this global network has started collaborating with major banks, including BNP Paribas and BNY Mellon. The goal is to test how its system could be transferred to a blockchain, specifically to the Ethereum Layer 2 solution called Linea (LINEA). This move is not just cosmetic. It is exploring whether blockchain could remove long-criticized shortcomings, such as slow transfer speeds, the need for multiple intermediaries, and a central architecture that limits flexibility. The project is still in the testing phase, and according to banking sources, it will take several more months to determine its practical usability.

Swift and potential of the Linea network

SWIFT has so far operated as a secure service for sending payment instructions between more than 11,000 financial institutions. Despite the robustness of the system, there have been long-standing calls for modernization. Blockchain, specifically Linea, offers the advantage of advanced cryptographic proofs, providing privacy while meeting regulatory standards.

Banks consider these features crucial, as international transfers require a balance between transparency and protection of sensitive data. Innovative solutions could enable not only higher security but also lower costs and faster processing of transactions, representing a significant step forward for the entire sector.

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Payments on the verge of technological transformation

Blockchain testing is not an isolated initiative but rather a reflection of a broader trend where financial institutions explore the potential of digital assets and decentralized technologies. If the project proves successful, SWIFT could take on an entirely new role – evolving from a traditional transaction provider to a pioneer connecting banking systems with blockchain.

Such a transformation would fundamentally affect how international transfers operate. Reducing the number of intermediaries would lower fees. At the same time, the use of cryptographic mechanisms would increase security, and compliance with regulations would open the door to broader adoption. The financial world thus faces the possibility that SWIFT will enter a new era where blockchain becomes the foundation of its future identity. The company also stated that banks plan to conduct live trials of digital assets and currencies through its network during 2025.