In a significant development for the future of blockchain-based financial infrastructure, SWIFT has announced plans to develop its upcoming blockchain payment settlement platform on the Ethereum Layer 2 scaling solution, Linea. This move signals a major integration of traditional banking infrastructure with innovative decentralized technology, potentially transforming cross-border payments by leveraging blockchain’s efficiencies and cost [...]In a significant development for the future of blockchain-based financial infrastructure, SWIFT has announced plans to develop its upcoming blockchain payment settlement platform on the Ethereum Layer 2 scaling solution, Linea. This move signals a major integration of traditional banking infrastructure with innovative decentralized technology, potentially transforming cross-border payments by leveraging blockchain’s efficiencies and cost [...]

ConsenSys CEO Reveals SWIFT is Leveraging Linea for Payments

2025/10/03 13:37
Consensys Ceo Reveals Swift Is Leveraging Linea For Payments
In a significant development for the future of blockchain-based financial infrastructure, SWIFT has announced plans to develop its upcoming blockchain payment settlement platform on the Ethereum Layer 2 scaling solution, Linea. This move signals a major integration of traditional banking infrastructure with innovative decentralized technology, potentially transforming cross-border payments by leveraging blockchain’s efficiencies and cost advantages.
  • SWIFT will build its new blockchain payment system on Ethereum Layer 2 Linea, confirmed by Consensys CEO Joe Lubin.
  • The platform aims to facilitate 24/7 real-time crypto payments, involving over 30 traditional financial institutions.
  • Linea, developed by Consensys, offers high transaction throughput at a fraction of Ethereum costs, with over $2.2 billion in total value locked.
  • Major banks including Bank of America, Citi, JPMorgan Chase, and Toronto-Dominion Bank are participating in trial phases.
  • This initiative could challenge existing blockchain-based payment systems like Ripple’s XRP Ledger, emphasizing widespread crypto adoption in banking.

SWIFT, the global messaging network responsible for overseeing around $150 trillion in international payments annually, is taking a significant step into blockchain technology. The organization plans to develop its new blockchain payment settlement platform on Ethereum’s Layer 2 scaling solution, Linea. This development was confirmed by Consensys CEO Joe Lubin during a recent conference, marking a notable collaboration between traditional finance (TradFi) and blockchain innovators.

Initially, SWIFT announced that over 30 traditional financial institutions would be involved in building infrastructure for a 24/7, real-time crypto payments system, though it did not specify the blockchain chain involved. Lubin clarified during the Token2049 conference in Singapore that Linea was the chosen platform, highlighting the strategic importance of this move. The announcement was deliberately “soft rolled out” to the banking sector, which Lubin said was received positively as a step toward bridging the gap between DeFi and TradFi.

Developed by Consensys, Linea utilizes zk-EVM rollup technology, offering processing speeds of around 1.5 transactions per second at approximately one-fifteenth the cost of Ethereum mainnet transactions. It currently boasts over $2.27 billion in total value locked (TVL), ranking as the fourth-largest Ethereum Layer 2 solution behind Arbitrum One, Base Chain, and OP Mainnet, according to L2BEAT data.

This move could have transformative implications for global finance, particularly because SWIFT manages a vast network of financial messaging that facilitates international transactions. Involving major banks such as Bank of America, Citi, JPMorgan Chase, and Toronto-Dominion Bank, SWIFT’s trial on Linea aims to pioneer near-instant settlement and reduce intermediaries, costs, and errors in cross-border payments. The initiative could emerge as a significant competitor to Ripple’s XRP Ledger, which is already being adopted by some banks for blockchain-based transactions.

Some of the biggest banks involved

Leading financial institutions like Bank of America, Citi, JPMorgan Chase, and Toronto-Dominion Bank are participating in SWIFT’s blockchain trial efforts. Their involvement underscores the industry’s growing acceptance of blockchain technology for secure, efficient payments. This collaboration might accelerate the adoption of decentralized blockchain systems in mainstream banking, challenging existing payment solutions like Ripple’s.

For years, the integration of blockchain into traditional finance has been anticipated, promising benefits such as instant settlement, lower fees, and reduced settlement errors. The collaboration between SWIFT and Linea could also inspire broader adoption of blockchain infrastructure in global payment networks, ushering a new era of financial operations.

Linea’s broader potential

Beyond payments, Lubin described Linea as a platform capable of supporting a “user-generated civilization,” where content and infrastructure can be built collectively. By leveraging Ethereum’s trustless settlement layer, communities could develop decentralized applications, rules, and frameworks from the ground up — a stark contrast to the top-down approach of traditional hierarchies.

Decentralized autonomous organizations (DAOs) are already experimenting with decentralized governance and smart contracts, aiming to operate without centralized control. While few have scaled successfully, the potential for a bottom-up digital society is rapidly evolving, with blockchain technologies like Linea playing a central role.

This article was originally published as ConsenSys CEO Reveals SWIFT is Leveraging Linea for Payments on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact [email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
Share Insights

You May Also Like

Cathie Wood: Early Life and Net Worth – The Vision Behind ARK Invest and the Future of Innovation

Cathie Wood: Early Life and Net Worth – The Vision Behind ARK Invest and the Future of Innovation

Cathie Wood’s vision shapes the future of disruptive innovation investments. ARK Invest pioneers the future of technology through strategic investment leadership. Cathie Wood’s wealth reflects her bold bets on transformative technologies. Cathie Wood is revolutionizing the world of finance and investment with her bold approach to disruptive innovation. As the founder, CEO, and CIO of ARK Invest, Wood has become a prominent figure in the financial world, known for her unwavering belief in the transformative potential of groundbreaking technologies. Her work is reshaping how investors view sectors such as artificial intelligence (AI), robotics, electric vehicles, and genomics. Wood’s influence extends beyond managing one of the most influential investment firms in the world—she is helping to pioneer a new approach to investing, where innovation is at the core. Through ARK Invest, Wood is leading the way for investors to understand and capitalize on the opportunities presented by technological disruption. Also Read: Mike Novogratz: Early Life and Net Worth – The Vision Behind Galaxy Digital and the Future of Crypto Cathie Wood: Early Life and Career Cathie Wood was born in 1955 in Los Angeles, California. Growing up, she was always intellectually curious and driven. After earning a degree in economics from the University of Southern California, she began her career in the investment world. Early on, she joined Capital Group, where she honed her skills in asset management, before transitioning to other firms like Jennison Associates and AllianceBernstein, where she specialized in growth investing. Her time at these firms helped Wood develop her investment philosophy: a long-term, research-driven approach that focuses on identifying disruptive technologies that can change the world. By 2014, with years of experience under her belt, Wood decided to pursue her vision independently by founding ARK Invest. The Birth of ARK Invest: A New Era of Disruptive Innovation In 2014, Wood founded ARK Invest with the bold vision of building a firm that focused on investing in disruptive innovation. Unlike traditional investment firms, ARK Invest takes an active approach to identifying and investing in technologies that have the potential to change industries and societies. ARK’s unique approach involves significant research into emerging technologies and their long-term impact, enabling the firm to anticipate trends and build a diversified portfolio of future-focused assets. ARK Invest has become widely known for its ability to invest in and nurture companies that are leading the way in industries like electric vehicles, autonomous driving, gene editing, and artificial intelligence. Under Wood’s leadership, ARK Invest has made early investments in groundbreaking companies such as Tesla, Roku, Square, and CRISPR Therapeutics, becoming one of the most influential players in the world of technology investment. Wood’s belief in the power of innovation has been central to the firm’s success. She has made it her mission to uncover technological breakthroughs and support them by backing companies that are on the cutting edge of transformation. Through ARK Invest, Wood has helped investors realize the potential of disruptive technologies in shaping the future of industries. A Vision for the Future: Embracing Disruption Cathie Wood’s investment philosophy revolves around her belief that innovation is the key to unlocking the future. Her vision goes beyond short-term market trends and focuses on technologies that will shape the next generation of businesses and economies. According to Wood, the industries that seem the most unlikely today are often the ones with the most potential for disruptive change. Wood is a staunch advocate for investing in disruptive innovation across five key areas: artificial intelligence, energy storage, robotics, DNA sequencing, and blockchain technology. Her vision is rooted in the idea that these fields will redefine how we live, work, and interact with the world. Her firm’s strategies often involve taking concentrated positions in companies that are well-positioned to benefit from these trends. For Wood, investing in disruptive technologies isn’t just about profit—it’s about fostering positive societal change. She believes that advancements in AI and genomics, for instance, can unlock new opportunities for medical treatments, making healthcare more personalized and accessible to millions. Cathie Wood’s Net Worth: The Wealth Behind the Vision As of 2025, Cathie Wood’s estimated net worth is between $230 million and $250 million. This wealth comes primarily from her 50% ownership stake in ARK Invest and her personal investments in disruptive technologies, including a significant allocation to Bitcoin. These estimates reflect the volatility inherent in Wood’s investment strategy, which focuses on high-growth sectors like artificial intelligence, genomics, and blockchain. ARK Invest’s performance has experienced fluctuations, impacting her personal wealth accordingly. For example, Forbes reported a decline in her net worth to $140 million in 2022, down from $400 million in 2021, due to market downturns affecting ARK’s funds. It’s important to note that these figures are estimates, as Wood’s exact net worth is not publicly disclosed. However, her significant role in ARK Invest and her investments in emerging technologies position her as a prominent figure in the investment community. Legacy: A Pioneer of the Disruptive Innovation Movement Cathie Wood’s legacy will likely be defined by her pioneering approach to investment in disruptive innovation. She has positioned herself as a leader not just in the financial world, but also as a thought leader in technology and societal change. Wood has made a name for herself by identifying long-term trends that others overlook, embracing technologies that are still in their infancy and betting on their future potential. Through her leadership at ARK Invest, Wood has challenged traditional approaches to investing and has been a vocal advocate for long-term, forward-thinking strategies. Her firm’s focus on high-growth, high-risk companies has created a new blueprint for understanding innovation in the 21st century. She has inspired both individual and institutional investors to rethink how they approach risk and reward, encouraging them to look toward the future instead of focusing on the status quo. Wood’s commitment to supporting the growth of transformative companies has not only shaped the investment landscape but has also influenced how the world thinks about the future of technology and its societal implications. FAQs 1. Who is Cathie Wood? Cathie Wood is the founder, CEO, and CIO of ARK Invest, an investment management firm that focuses on disruptive innovation. She is known for her expertise in identifying emerging technologies and her bold investment strategies in industries like AI, robotics, and genomics. 2. What is ARK Invest? ARK Invest is a global investment firm founded by Cathie Wood in 2014. The firm focuses on disruptive innovation and invests in emerging technologies such as artificial intelligence, robotics, and blockchain. ARK Invest is known for its actively managed exchange-traded funds (ETFs) that focus on high-growth sectors. 3. What is Cathie Wood’s net worth? As of 2025, Cathie Wood’s estimated net worth is $6.5 billion, primarily derived from her investments in disruptive technologies and her ownership stake in ARK Invest. 4. What is Cathie Wood’s investment philosophy? Cathie Wood’s investment philosophy centers on identifying and investing in disruptive technologies that have the potential to transform industries and societies. She focuses on five key areas: artificial intelligence, energy storage, robotics, DNA sequencing, and blockchain. 5. How has Cathie Wood influenced the investment world? Cathie Wood has redefined how investors approach disruptive technologies, advocating for a long-term investment strategy that embraces high-growth, transformative companies. Her leadership at ARK Invest has made her a key figure in shaping the future of technology and finance. Also Read: Joe Lubin: Early Life and Net Worth – The Vision Behind Consensys and Ethereum The post Cathie Wood: Early Life and Net Worth – The Vision Behind ARK Invest and the Future of Innovation appeared first on 36Crypto.
Share
Coinstats2025/10/04 19:50
Share