SWIFT's Phase 2 CBDC sandbox is one of the largest industry initiatives to date focused on the future of cross-border payments using digital currencies. The initiative addressed critical challenges around interoperability, fragmentation, and liquidity inefficiencies as digital currency systems proliferate across jurisdictions.

The project needed to demonstrate that a single technology platform could enable secure, atomic settlement across fundamentally different blockchain networks including Hyperledger Besu, Hyperledger Fabric, and Corda, while onboarding 38 participants at scale and operating over 600 runtimes across cash, asset, and trade networks.

Kaleido powered the SWIFT CBDC connector and integrated Hyperledger Besu, Hyperledger Fabric, and Corda networks, enabling secure, atomic PvP and DvP settlement across disparate infrastructures. Kaleido provided the full platform stack including Chain Infrastructure, Hyperledger FireFly web3 middleware, and Digital Assets. Kaleido also provided automated onboarding of participants via Consortium as a Service tooling, accelerating experimentation and interoperability testing at scale. The live deployment involved over 600 runtimes hosted and operated by Kaleido across 38 participants.