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As cryptocurrencies are gradually gaining a global presence, central and commercial banks will be now playing an active role in boosting crypto adoption in 2025. 

On Oct. 3, the Society for Worldwide Interbank Financial Telecommunication (SWIFT) announced banks across North America, Europe and Asia will be able to use the Swift connectivity to conduct live trials of digital asset and currency transactions.

As the crypto industry enters the real-application phase, Swift will carry on the test trials to showcase the network’s ability to conduct transactions of “all kinds of value” among more than 4 billion accounts across 200 countries. 

Swift has already managed to demonstrate that it conduct transactions of tokenised value across public and private blockchains and interlinks central bank digital currencies (CBDCs) globally. 

In the new trail, Swift network wants to highlight how it can provide financial institutions with a “single window of access” to various digital asset classes and currencies. 

The initial use cases will be focusing on payments, FX, securities, and trade “to enable multi-ledger Delivery-versus-Payment (DvP) and Payment-versus-Payment (PvP) transactions.”

Tom Zschach, the Chief Innovation Officer of Swift, commenting about the network’s recent decision, claimed: “For digital assets and currencies to succeed on a global scale, it’s critical that they can seamlessly coexist with traditional forms of money. ”

Claiming the tokenized asset market is projected to reach $16 trillion by 2030, Swift will be utilizing its existing infrastructure to conduct the trials of connecting various cryptocurrency networks with traditional money systems. 

Zschach further stated, “With Swift’s vast global reach we are uniquely positioned to bridge both emerging and established forms of value, and we’re now focused on demonstrating this in real-world, mainstream applications.”
“As new forms of value emerge, our intention is to continue offering our community the ability to seamlessly make and track transactions of all kinds of assets using the same secure and resilient infrastructure that is integral to their operations today."