Banks could soon gain access to round-the-clock tokenised payments through Oracle’s connection to SWIFT’s blockchain ledger. The development could allow cross-border transactions to settle outside conventional banking hours while bringing bank and blockchain infrastructure closer together. However, important details, including a launch date, participating banks, and supported tokenised assets, have yet to be disclosed.
Payments go 24/7
Tokenised cross-border payments represent value on a shared ledger, allowing transactions to settle on-chain instead of relying entirely on the traditional correspondent banking process. Oracle’s involvement could extend that model into enterprise banking systems already used by financial institutions.
Previous trials have shown how the technology could work across borders. The Bank for International Settlements has completed a $1 million tokenised cross-border payment test involving wholesale settlement across jurisdictions outside normal real-time gross settlement hours.
Connecting banks directly to SWIFT’s blockchain ledger could eventually shorten settlement windows and reduce the amount of cash businesses need to leave sitting in different locations. Corporate finance teams may also gain faster access to funds when paying suppliers internationally.
Emerging risks
Moving towards 24/7 settlement also creates operational challenges. Traditional treasury operations rely partly on banking cut-off times, giving companies defined periods for payment processing, cash forecasting and liquidity management. Always-on transactions remove some of that buffer.
Errors could potentially become settled losses overnight, while finance teams would need near-real-time visibility over fiat and token balances. Custody presents another concern because companies must determine who controls private keys, reconciles blockchain balances and takes responsibility when problems occur. Foreign exchange decisions could become more time-sensitive as settlement windows shrink. Businesses considering tokenised payments could begin with a limited cross-border corridor before expanding their use.
Such trials can measure settlement speed, fees, reconciliation work and compliance requirements. Regulation remains another unanswered area, particularly around cross-border transaction finality, overnight liquidity and anti-money-laundering controls as tokenised settlement moves closer to mainstream banking infrastructure.
