Consensys shared that it is supporting Swift with early-stage prototyping as the global financial infrastructure adds a blockchain-based digital ledger to its technology stack.
Swift’s move is a pivotal one for global finance, “beginning with instant, always-on cross-border payments at unprecedented scale.”
For more than a decade, Consensys’ engineers have “helped create and scale Ethereum, the world’s programmable blockchain.”
As stated in the update shared by Consensys,
“We built the Besu execution client, giving enterprises and institutions the tools to launch their own EVM networks. We were a major driver of The Merge, which enabled Ethereum to evolve to proof-of-stake. Our consensus client Teku, in addition to Besu, plays a major role in the operation of today’s Ethereum network.”
The blog post also noted:
“We built MetaMask, the most trusted gateway to Web3, serving over 100 million users worldwide. We built Infura, the infrastructure platform powering the largest applications in the ecosystem. And we created Linea, the first complete zero-knowledge EVM, now the leading ZK blockchain in the world.”
Their research and engineering reportedly aims to “drive innovation, sets standards, and secures and processes trillions in tokenized value every year.”
All of this work has been grounded “in one belief: that digital assets will make global finance more efficient, resilient, and powerful for the billions of people and companies that depend on it every day.”
At Consensys, they now look forward to working “with Swift and the Swift community to advance the first phases of this important initiative.”
Their role now is to help explore capabilities so “that Swift can make informed design choices to ensure that the future infrastructure works flawlessly, securely, and at the scale the world requires.”
Swift’s plans to extend its network with blockchain powered infrastructure is a defining moment “for both traditional and decentralized finance.”
According to a blog post by Consensys, it reflects “a convergence, not a clash.”
