Banks Build Tokenless Blockchain Rails

SWIFT will partner with Consensys and 30+ banks to deploy a blockchain network that runs alongside its legacy rails—without a native coin. The design emphasizes interoperability (e.g., Chainlink pilots) and regulatory compliance, signaling that incumbents will adopt blockchain tech while rejecting speculative tokens. — If the dominant payments network standardizes a tokenless ledger, it could marginalize crypto‑token models, influence stablecoin/CBDC policy, and redefine how cross‑border finance is regulated.