Swift reportedly picks Linea for multi-month interbank messaging system transition
John: Hey there, folks! I’m John, a veteran writer for Blockchain Bulletin, where I break down the latest in Web3, crypto, and blockchain in easy-to-digest bites. Today, we’re diving into SWIFT’s big move toward blockchain with Linea—think of it as the banking world’s step into the crypto future. For readers who want a full step-by-step guide, you can also check this exchange guide.
Lila: Hi everyone, I’m Lila, John’s curious assistant always eager to learn more about this crypto stuff. John, what’s SWIFT anyway, and why is this Linea thing such a big deal for banks?
Basics of SWIFT and Linea
John: Great question, Lila. SWIFT stands for the Society for Worldwide Interbank Financial Telecommunication—it’s basically the messaging backbone for global banks, handling trillions in transfers daily. As of now, in 2025, they’re piloting a shift to blockchain tech using Linea, which is an Ethereum layer-2 network developed by Consensys. This could make cross-border payments faster and more secure, like upgrading from snail mail to instant messaging.
Lila: Layer-2? That sounds like a sandwich. Can you explain what that means without the tech jargon?
John: Haha, sure—think of Ethereum as the busy main highway (layer-1), and Linea as a faster side road (layer-2) that handles traffic without clogging the whole system. It’s a zero-knowledge Ethereum Virtual Machine (zkEVM), which means it processes transactions quickly and privately. According to reports from CryptoSlate on 2025-09-27, SWIFT chose Linea after months of talks to test on-chain messaging.
Background on the Transition
John: In the past, SWIFT has been all about traditional systems since its founding in 1973. But with blockchain rising, they’ve been experimenting—like their CBDC tests back in 2022. Fast-forward to 2025-09-26, and sources like Crypto Briefing report SWIFT is now developing a stablecoin-like token alongside this Linea pilot, aiming to blend old-school banking with crypto efficiency.
Lila: Stablecoin-like token? Is that just fancy talk for digital money that doesn’t swing in value?
John: Spot on, Lila. It’s designed to mimic stablecoins for settlement, tested by banks to ensure reliability. A report from CoinCentral on 2025-09-26 highlights how this positions SWIFT against competitors like Ripple, which has been pushing blockchain payments for years.
Current Developments
John: As of today, 2025-09-28, the pilot is underway with over a dozen major banks, including BNP Paribas and BNY Mellon, according to CryptoSlate’s update on 2025-09-27. They’re testing interbank messaging on Linea’s blockchain over several months. Yahoo Finance noted on 2025-09-27 that this involves on-chain communications, potentially handling the $7 trillion network SWIFT oversees.
Lila: Wow, $7 trillion? That’s more zeros than I can count! How does this actually work in practice?
John: It means banks can send secure messages and settle payments directly on the blockchain, cutting out middlemen. Cryptopolitan reported on 2025-09-26 that this is SWIFT’s way of dipping toes into blockchain without disrupting their core system—kind of like test-driving a new car before buying it (no crashes hoped for).
Use Cases and Examples
John: Looking at use cases, this could revolutionize cross-border transfers. For instance, a bank in Europe sending funds to Asia might use Linea’s messaging for instant confirmations, reducing days to seconds. Cointrust’s news from just 13 hours ago (as of 2025-09-28) mentions SWIFT collaborating with global banks on this Ethereum layer-2 for faster, compliant payments.
Lila: That sounds practical. Any real-world examples we can point to?
John: Absolutely. Imagine Société Générale testing Ethereum L2 messaging, as per ChainCatcher’s update six hours ago on 2025-09-28. It’s all about secure, on-chain interactions. Here’s a quick list of potential benefits:
- Faster settlements: From days to minutes.
- Lower costs: Less fees from intermediaries.
- Enhanced security: Blockchain’s immutability guards against fraud.
- Global reach: Easier for banks in emerging markets.
Risks and Safeguards
John: Of course, no tech is without risks. Blockchain transitions could face hacks or regulatory hurdles—remember the 2022 crypto winter crashes? SWIFT is mitigating this by starting with pilots and ensuring compliance, as detailed in Cointribune’s report from 16 hours ago on 2025-09-28.
Lila: Risks? Like what if something goes wrong with all that money?
John: Valid concern. Safeguards include zero-knowledge proofs for privacy and partnerships with trusted firms like Consensys. Bitget News on 2025-09-27 emphasizes testing for secure interbank payments, so they’re not rushing in blindly.
Looking Ahead
John: Moving forward, if successful, this pilot could lead to full adoption by 2026 or beyond, integrating stablecoins into everyday banking. HappyCoin’s update 17 hours ago on 2025-09-28 suggests SWIFT is positioning against Ripple by leveraging Ethereum’s ecosystem.
Lila: So, is this the future of money?
John: It might be a big piece of it. We’ll watch for updates, but it’s exciting to see traditional finance embracing Web3.
John: Wrapping this up, SWIFT’s Linea pilot is a smart bridge between old and new worlds of finance, potentially making global payments smoother for everyone. It’s a reminder that blockchain isn’t just for crypto enthusiasts—it’s hitting the big leagues. And if you’d like even more exchange tips, have a look at this global guide.
Lila: Thanks, John—that cleared up a lot! Key takeaway: Blockchain is making banking faster and safer, one pilot at a time.
This article was created using the original article below and verified real-time sources:
- Swift reportedly picks Linea for multi-month interbank messaging system transition
- SWIFT developing stablecoin-like token and onchain messaging with Linea
- SWIFT Advances Blockchain Transition with Linea Pilot, Positioning Against Ripple
- SWIFT Taps Linea for Blockchain Messaging Pilot
- Global payments network Swift looks at migrating messaging system on-chain with Linea
- SWIFT Tests Blockchain Messaging with Global Banks
- SWIFT Tests Interbank Messaging on Linea Blockchain