Chainlink has announced a new connection system that allows financial institutions to access the Swift blockchain ledger while retaining control over the keys used to sign transactions.
On September 28, Chainlink stated that banks will be able to connect their existing systems and key infrastructure to the Swift ledger through its platform, with the Chainlink Runtime Environment (CRE) handling workflows between institutional systems and the shared ledger.
At the core of this system is a self-signing model. Financial institutions hold the keys used to authorize transactions, while the CRE coordinates the workflow needed to read from and write to the Swift ledger. Chainlink said this structure allows institutions to preserve their existing approval procedures, security controls, and operational models while adopting tokenized payment services.
Banks can use this connection to manage smart contract operations both in their own tokenized deposit ledgers and in Swift’s blockchain infrastructure. Deposits remain in ledgers owned by the banks, while Swift coordinates payment obligations between participating institutions until final settlement.
Chainlink gives banks controlled access to the Swift ledger
Under the announced structure, the CRE acts as an intermediary between a financial institution’s infrastructure and the Swift ledger, without gaining control over the institution’s authorization keys. Chainlink describes the CRE as a workflow layer responsible for coordinating interactions, while each bank signs its own transactions.
This model gives banks access to Swift’s blockchain system without having to transfer transaction-signing authority to Chainlink. According to company representatives, institutions can continue using their internal governance and approval processes when authorizing transactions.
Sergey Nazarov, CEO of Chainlink Labs, said the company is “very excited to support the Swift ledger” as banks look for technologies for tokenized deposits and ledger connectivity. Chainlink did not provide a timeline for individual banks adopting its connection system, nor did it specify which of Swift’s pilot banks would use the CRE first.
The latest work expands the engagement between Chainlink and Swift, which has covered institutional blockchain interoperability for several years. Previous studies examined how financial institutions could use Swift’s existing infrastructure alongside blockchain networks, including experiments with tokenized assets and cross-chain communication.
Swift itself remains the operator of the new ledger. An implementation update published in March said banks would use their own environments and retain control over their keys, assets, and funds. Settlements remain available through real-time gross settlement systems, correspondent banking arrangements, or other mechanisms agreed between participants.
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