Cosmos Labs connects tokenization suite to Swift's blockchain ledger for banks

Cosmos Labs and Chainlink have launched separate integration frameworks connecting traditional banking infrastructure to Swift's blockchain-based shared ledger. Announced on September 28, 2026, these systems allow financial institutions to coordinate 24/7 tokenized-deposit payments while maintaining internal core systems and transaction-signing keys. Seventeen global banks, including Citi and HSBC, are preparing live pilots on Swift's ledger, while Saudi Awwal Bank has separately adopted Swift's new retail payments system.

Cosmos Labs' Tokenization Suite capabilities

• ▪Cosmos Labs' infrastructure supports EVM and Hyperledger Besu deployments, allowing banks to operate tokenized-deposit ledgers while connecting to external networks like Swift, Canton, Partior, Ethereum, and Solana.
• ▪Cosmos Labs announced on September 28, 2026, that its Tokenization Suite connects internal banking systems and tokenized deposits to Swift's blockchain-based shared ledger.
• ▪Cosmos Labs' Tokenization Suite is designed to synchronize with existing banking-core systems, including Fiserv, FIS, Jack Henry, Temenos, and Hogan.

Chainlink's integration with Swift's ledger

• ▪The Chainlink Runtime Environment coordinates workflows between institutional systems and Swift's shared ledger while allowing banks to retain their transaction-signing keys.
• ▪Chainlink announced on September 28, 2026, a connection framework enabling financial institutions to access Swift's blockchain ledger through the Chainlink platform.
• ▪Chainlink and Swift have previously collaborated on experiments involving tokenized assets and cross-chain communication.

Features and timeline of Swift's ledger

• ▪Swift's ledger uses an Ethereum Virtual Machine-compatible architecture based on Hyperledger Besu, with final settlement occurring through existing real-time gross settlement or correspondent banking systems.
• ▪Swift's blockchain ledger project moved from concept at Sibos in September 2025 to MVP implementation in March 2026, before reaching initial-use status in July 2026.
• ▪Swift's blockchain ledger coordinates 24/7 cross-border payments using tokenized commercial-bank deposits that remain liabilities on the issuing banks' balance sheets.
• ▪Seventeen banks across six continents, including Citi, HSBC, and Wells Fargo, are preparing live pilots using tokenized deposits on Swift's ledger.

Swift's retail payment solution at Saudi Awwal Bank

• ▪Saudi Awwal Bank announced on September 29, 2026, that Swift's new retail payments system is available to its customers to enhance transparency in international transfers.
• ▪The retail payment solution operates across the Swift network under a consistent set of standards to streamline transfer processing and support faster payments.

Debatable claims

• ▪Tokenized bank deposits are a superior alternative to publicly issued stablecoins
• ▪Banks should use third-party middleware to connect to blockchain networks
• ▪Swift's blockchain ledger is an effective way to modernize global interbank settlement