Ethereum Layer-2 Linea Confirmed as SWIFT’s Blockchain Settlement Layer

Last Updated on October 3, 2025

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Key Takeaways:

  • SWIFT will build its new 24/7 blockchain-based payment system on Linea, an Ethereum layer-2 network by Consensys.
  • Major banks including JPMorgan, Citi, and Bank of America are testing the system, positioning Linea as a potential rival to Ripple’s XRP Ledger.
  • Consensys CEO Joe Lubin envisions Linea enabling broader decentralized infrastructure and community-led applications beyond payments.

Consensys CEO Joe Lubin has confirmed that SWIFT, the global payments messaging network, will build its new blockchain-based settlement system on Linea, the Ethereum layer-2 developed by Consensys. 

Earlier this week, SWIFT announced a partnership with Consensys and 30+ major financial institutions to create a 24/7 real-time crypto payment platform, though it initially avoided naming the underlying blockchain. 

At Token2049 in Singapore, Lubin revealed Linea as the foundation, suggesting the cautious rollout was meant to ease banks into the transition.

Linea is a zk-EVM rollup network with $2.27 billion TVL, ranking fourth among Ethereum’s layer-2s

While it currently processes ~1.5 transactions per second, it offers much lower costs than Ethereum’s base chain. 

SWIFT processes ~$150 trillion annually, and shifting even part of that volume to blockchain rails would be a landmark move

Institutions including Bank of America, Citi, JPMorgan, and Toronto-Dominion Bank are involved in testing.

The project positions Linea as a potential rival to Ripple’s XRP Ledger, while also serving as a broader platform for decentralized governance and applications, which Lubin described as a vision for “user-generated civilization.”

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