In a landmark development for blockchain adoption in traditional finance, Swift has partnered with Consensys to launch a groundbreaking blockchain-based cross-border payments pilot. This collaboration brings together over 30 major global banks including Santander, BNP Paribas, and HSBC, leveraging Consensys' ethereum expertise and their Layer-2 scaling solution Linea. The initiative represents a significant institutional validation of Ethereum's technology stack and marks a crucial step toward mainstream blockchain integration in global financial infrastructure. Building upon tokenization experiments conducted throughout 2023-2024, this project aims to revolutionize cross-border settlements by enhancing real-time transaction capabilities, reducing intermediary costs, and improving transparency across international payment networks. The involvement of such prominent financial institutions signals growing confidence in Ethereum's scalability solutions and demonstrates the maturing relationship between traditional finance and decentralized technology. This development could potentially drive increased institutional investment in Ethereum and related Layer-2 solutions as banks seek to modernize their payment infrastructures. The timing of this announcement, coming in late 2025, reflects the accelerating convergence between traditional banking systems and blockchain technology, potentially setting new standards for global financial interoperability and efficiency.
Swift and Consensys Collaborate on Blockchain-Based Cross-Border Payments Pilot
Swift, the global financial messaging network, has partnered with Consensys to develop a blockchain-powered shared ledger for cross-border payments. The initiative involves over 30 major banks, including Santander, BNP Paribas, and HSBC, leveraging Consensys' Ethereum-based expertise and its Layer-2 solution Linea.
The project builds on prior tokenization experiments from 2023-2024, aiming to enhance real-time settlement capabilities and interoperability. This marks a significant step toward institutional adoption of distributed ledger technology in traditional finance.
Flying Tulip Secures $200M Funding, Announces Public $FT Token Sale with Onchain Redemption Feature
Flying Tulip, a comprehensive onchain exchange platform, has raised $200 million in a private funding round led by prominent investors including Brevan Howard Digital, CoinFund, and Susquehanna Crypto. The firm will launch a public sale of its $FT token at the same valuation, offering unique onchain redemption rights to participants.
The platform integrates stablecoins, derivatives, and risk management tools into a single cross-margin system. Its innovative redemption mechanism allows investors to burn $FT tokens and reclaim their initial capital in contributed assets like ETH, backed by a segregated onchain reserve.
Tokenomics emphasize alignment with platform usage, with team compensation tied strictly to protocol performance through revenue-funded buybacks. This structure creates direct incentives for sustainable growth while protecting investor downside.
Swift Integrates Blockchain Ledger into Global Payments Network
Swift is set to revolutionize cross-border payments by embedding a blockchain-based ledger into its Core financial messaging infrastructure. The move, announced at the Sibos conference in Frankfurt, aims to enhance settlement speeds and expand digital finance capabilities across its network of over 11,500 institutions in 200+ countries.
More than 30 financial institutions—including Bank of America, Citi, and HSBC—are backing the initiative. A conceptual prototype, developed in collaboration with Ethereum software firm Consensys, will focus on enabling real-time, 24/7 cross-border transactions. While Swift will provide the infrastructure for tokenized value transfer, the definition of specific token types (e.g., CBDCs, securities) remains the purview of central and commercial banks.
This marks Swift's first operational foray into blockchain integration, following earlier proofs of concept in tokenization and cross-chain interoperability. The project underscores growing institutional momentum toward bridging traditional finance with decentralized technologies.
Swift Collaborates With Consensys and Major Banks on Blockchain Payment Prototype
SWIFT has partnered with Ethereum development powerhouse Consensys and a consortium of 30 financial giants—including Bank of America, Citi, and JPMorgan Chase—to pioneer a blockchain-based system for real-time cross-border settlements. The prototype leverages smart contracts on a secure distributed ledger to authenticate transactions, though its underlying infrastructure remains undisclosed. Potential implementations could involve Ethereum mainnet or Consensys-incubated Layer-2 solution Linea.
The initiative marks a watershed moment for institutional blockchain adoption, with SWIFT's network of 11,500+ financial institutions serving as potential adopters. 'Swift’s plans to extend its network with blockchain infrastructure is a defining moment,' observed an industry insider, highlighting the project's capacity to bridge traditional finance with decentralized protocols.
Ethereum Faces Stalemate as Buyers and Sellers Clash Near $4,000
Ethereum's market dynamics reveal a tense standoff between buyers withdrawing ETH from exchanges and sellers capping price momentum. Exchange reserves have dwindled as investors move tokens into self-custody—a classic accumulation signal—yet ETH remains pinned NEAR $4,000 due to persistent sell-side pressure.
CryptoQuant data highlights billions in ETH leaving centralized platforms, typically a precursor to rallies. But the absence of upward movement underscores the market's equilibrium. Sellers are absorbing every attempt by buyers to break through resistance, creating a coiled spring scenario that analysts warn could snap violently in either direction.
Andre Cronje's Flying Tulip Raises $200M, Plans Public Token Sale at $1Bn Valuation
Andre Cronje's latest venture, Flying Tulip, has secured $200 million in private funding and is preparing for a public sale of its FT token at a $1 billion valuation. The New York-based exchange startup aims to build a comprehensive on-chain trading platform integrating stablecoins, derivatives, and insurance.
The public sale will be conducted on-chain across multiple networks, with details shared exclusively via the project's website to combat phishing risks. Flying Tulip's unique "redemption right" feature allows investors to burn FT tokens and reclaim their initial contribution in assets like ETH, providing downside protection.
With $200 million already raised, the project could offer up to $800 million in public tokens. The team emphasizes capital efficiency through cross-margin linking of all platform components.
