SWIFT may tap Ethereum Layer 2 Linea for crypto payments ledger, ConsenSys CEO Joe Lubin says

SWIFT will build its crypto payments ledger on the Ethereum layer 2 Linea blockchain, using Linea’s zk‑EVM scaling to enable near‑instant, 24/7 settlement for bank-to-bank ￰0￱ integration aims to reduce costs and friction while supporting trials with major global ￰1￱ will use Linea (Ethereum layer 2) for its blockchain payments ledger Linea is a zk‑EVM rollup with low fees and ~1.5 tx/sec per reported metrics Linea has $2.27B TVL and major banks including Bank of America and JPMorgan are in trials SWIFT Linea: SWIFT is building its blockchain payments ledger on Ethereum Layer 2 Linea—learn how 24/7 real-time settlements will cut costs and which banks are testing the ￰2￱ boss Joe Lubin confirmed SWIFT will leverage the Ethereum layer 2 Linea blockchain to build its crypto payments ledger, signaling deeper TradFi and DeFi ￰3￱ is SWIFT building on Linea?

SWIFT is building a blockchain payments settlement platform on the Ethereum layer 2 Linea ￰4￱ platform is designed for real‑time, 24/7 bank settlement using Linea’s zk‑EVM rollup to lower fees and speed finality for interbank ￰5￱ will Linea enable SWIFT’s crypto payments? Linea leverages zk‑EVM rollup technology to batch transactions and settle on Ethereum’s base ￰6￱ processes roughly 1.5 transactions per second with fees reported at about one‑fifteenth of mainnet Ethereum ￰7￱ currently shows $2.27 billion in total value locked, per L2BEAT data. Cointelegraph’s Gareth Jenkinson with Joe Lubin and Neal Stephenson.) Consensys CEO Joe Lubin confirmed Linea’s selection during a TOKEN2049 conference fireside chat.

SWIFT’s announcement invited more than 30 TradFi institutions to participate in building and trialing a 24/7 crypto payments ￰8￱ banks are participating in trials? Major global banks taking part in trials include Bank of America, Citi, JPMorgan Chase, and Toronto‑Dominion ￰9￱ handles roughly $150 trillion in global payments annually via traditional rails, indicating broad potential scale if blockchain rails are ￰10￱ does this matter to TradFi and DeFi? Linea’s model reduces counterparty risk and settlement delay by enabling near‑instant finality without legacy ￰11￱ banks, this means lower operational costs and fewer reconciliation ￰12￱ DeFi and community builders, Linea opens pathways for user‑generated applications built on Ethereum’s trust ￰13￱ will this compare to existing blockchain payment systems?

Linea’s zk‑EVM approach competes with other bank‑oriented rails like the XRP Ledger by focusing on Ethereum compatibility, stronger smart contract tooling, and a growing developer ￰14￱ ranks fourth in TVL among Ethereum layer 2s behind Arbitrum One, Base Chain and OP Mainnet per L2BEAT. , Frequently Asked Questions Will Linea handle SWIFT’s full payment volume? Not ￰15￱ with major banks will determine performance and scalability. SWIFT’s annual payment footprint is around $150 trillion, so adoption would be phased and subject to regulatory and operational ￰16￱ secure is Linea for bank settlements? Linea inherits Ethereum’s settlement security while using zk proofs to compress transaction ￰17￱ depends on rollup design, validator economics, and ongoing ￰18￱ security reviews and institutional testing are ￰19￱ Takeaways Linea selection: SWIFT will build its blockchain payments ledger on Ethereum layer 2 Linea, confirmed by Consensys CEO Joe ￰20￱ & cost: Linea uses zk‑EVM rollups, with reported ~1.5 tx/sec and fees at roughly one‑fifteenth of Ethereum mainnet ￰21￱ trials: Major banks including Bank of America, Citi, JPMorgan Chase, and Toronto‑Dominion Bank are participating in trials. , "description": "Consensys CEO Joe Lubin confirmed SWIFT will use the Ethereum layer 2 Linea blockchain to build a 24/7 crypto payments ledger, with major banks participating in trials." Conclusion SWIFT’s choice of Linea marks a major step toward integrating TradFi rails with Ethereum layer 2 ￰22￱ with top global banks will test performance, security, and ￰23￱ validated, Linea could enable faster, cheaper cross‑border settlement and broader DeFi–TradFi ￰24￱ updated as institutional trials progress under industry ￰25￱ notes: Confirmation delivered by Consensys CEO Joe Lubin at ￰26￱ and layer‑2 rankings per ￰27￱ references include Cointelegraph and TOKEN2049 coverage as plain text sources.