Woofun AI reports that SWIFT has activated its blockchain-based distributed ledger for initial application, involving 17 global financial institutions in a pilot for tokenised deposit transactions. The project, which moved from concept to implementation in nine months since the 2025 Sibos conference, targets cross-border payment efficiency by enabling round-the-clock fund transfers. SWIFT selected tokenised deposits as the first use case because they represent regulated commercial bank money, allowing banks to improve liquidity management and customer experience without modifying current compliance, credit risk, or control systems. The ledger serves as a secure coordination layer for banks issuing tokens on their own ledgers, with final settlement occurring through existing clearing mechanisms.