Oracle announced a new integration that links its technology with SWIFT’s blockchain-based ledger, allowing banks and financial institutions to connect their existing payments systems and tokenized deposits within a single operating framework. This development enables banks to manage both conventional and digital payment flows while retaining full control over their deposit infrastructure.
SWIFT ledger expands to pilot phase with global banks
SWIFT, a leading global provider of financial messaging services, said in July that its ledger platform was ready for initial deployment. According to the institution, 17 banks spanning six continents are preparing to conduct pilot transactions using tokenized deposits.
The SWIFT blockchain-based system is built to offer 24/7 cross-border payments, addressing persistent liquidity constraints caused by conventional settlement windows. The platform is also positioned as infrastructure that could be used in the future to support programmable money and other regulated digital assets.
SWIFT sees the new ledger as a foundation for always-available global payments, with the potential to advance programmable money and regulated digital value forms.
Oracle’s tech bridges existing banking systems and new digital ledgers
Oracle, a major enterprise software provider, plays a key role in the integration because most banks are not seeking to scrap or rebuild their entire payments infrastructure. Instead, Oracle’s solutions are designed to serve as a bridge, connecting legacy payment rails to the SWIFT blockchain ledger, giving banks a smoother transition into digital asset management.
This integration underscores the trend of established technology partners helping financial institutions modernize core payment systems without risking operational continuity.
Mini dictionary: SWIFT (Society for Worldwide Interbank Financial Telecommunication) is a cooperative organization connecting banks and financial institutions worldwide, providing standardized messaging services for secure international payments and settlements.
Ripple and legacy banks explore interoperability
The collaboration between Oracle and SWIFT carries new relevance for Ripple, a fintech company known for global payment solutions. SWIFT and Ripple have long been considered competitors, as both aim to improve cross-border value transfers and reduce settlement times for institutions.
Ripple’s operations have expanded well beyond XRP-based payments, now offering custody services, RLUSD—the company’s new stablecoin, treasury management, and prime brokerage. The expansion brings Ripple deeper into the same infrastructure modernizations being pursued by traditional banks.
| Feature | SWIFT Ledger | Ripple Platforms |
|---|---|---|
| Primary Use | Interbank messaging, tokenized deposits | Cross-border payments, custody, on-chain finance |
| Asset Types | Conventional and tokenized deposits | XRP, RLUSD, fiat, tokenized assets |
| Programmable Money | Potential future support | Developing and supporting programmable assets |
| Bank Integration | Via Oracle and partner tech | APIs and interoperability with SWIFT |
At the same time, the relationship between Ripple and traditional banking systems is increasingly collaborative. Ripple Payments supports seamless SWIFT interoperability, enabling financial institutions to incorporate blockchain settlement with existing banking communication protocols instead of replacing them outright.
Ripple has focused its strategy on integrating with existing banking infrastructure, offering support for SWIFT interoperability to help banks adopt blockchain settlement alongside traditional systems.
