A source at one of the participating banks told the report:
“The project will take several months to see the light of day, but it promises a major technological transformation for the international interbank payments industry.”
Linea’s native token price jumped 10.6% from $0.02544 to $0.02814 within one hour of the announcement. As of press time, LINEA traded at $0.02806.
The announcement cited plans to test multi-ledger Delivery-versus-Payment and Payment-versus-Payment transactions, targeting the tokenized asset market, which is expected to reach $30 trillion by 2034.
The source said Swift chose Linea specifically for its transaction confidentiality features, which utilize advanced cryptographic proofs.
The banking consortium required blockchain solutions that maintain data protection and regulatory compliance, while offering greater speed, transparency, and programmability than traditional payment processing methods.
Developed by Consensys, Linea focuses on privacy-preserving transactions through zero-knowledge proofs, addressing banks’ need to reconcile the benefits of blockchain with existing regulatory frameworks.
The network’s connection to Ethereum provides established infrastructure while layer-2 technology reduces transaction costs.
Swift connects over 11,000 financial institutions globally through its messaging system, processing billions of payment instructions annually.
The current architecture relies on multiple relays and centralized infrastructure, creating operational dependencies that blockchain technology could streamline.
Swift has progressed through multiple blockchain experiments since announcing its digital asset strategy.
The Linea pilot builds on Swift’s broader blockchain integration efforts, which include participation in the Bank for International Settlements’ Project Agora and collaboration with central bank digital currency initiatives.
