SWIFT Blockchain Settlement Pilot Goes Live With 17 Banks

SWIFT, the global payments network that processes approximately five trillion dollars in daily transactions, has launched live pilot transactions on a blockchain ledger. According to CoinDesk, the initiative includes Citi, HSBC, UBS, and Wells Fargo among 17 banks testing tokenized deposit settlements that clear around the clock.

CoinDesk confirmed that SWIFT went live on a permissioned, Ethereum-compatible shared ledger on July 9. The 17 participating banks are testing tokenized deposit settlements as part of the pilot program, which enables continuous clearing and settlement on the shared ledger infrastructure. Tokenized deposits are digital representations of bank deposits issued on distributed ledgers, and they are being explored by financial institutions as a way to move regulated bank money more efficiently across shared infrastructure.

The pilot represents a notable step in integrating blockchain-based settlement with the traditional financial messaging network that connects financial institutions across more than 200 countries and territories. For banks, the significance lies less in replacing existing payment rails immediately and more in testing whether tokenized settlement can operate within compliance, liquidity, and interoperability requirements already used by regulated institutions.

Spot Bitcoin ETFs Record Five-Day Inflow Streak

Spot Bitcoin ETFs recorded $226.9 million in inflows on July 20, extending a five-day inflow streak totaling $727 million, according to SoSoValue data. The streak marked the longest consecutive positive run for Bitcoin ETFs since May. Spot Bitcoin ETFs provide exposure to Bitcoin through regulated exchange-traded products, making their flow data a closely watched indicator of institutional and brokerage-platform demand.

Pepeto Presale Reports $10.46 Million in Contributions

Pepeto, a meme-themed cryptocurrency project, reported that its presale has crossed $10.46 million in total contributions. According to the project, contributions have continued to arrive across varying market conditions, including periods with low market sentiment readings.

The project is led by a builder associated with the original Pepe token, which previously reached an $11 billion market valuation. A former Binance executive is also part of the leadership team. Smart contract audit firm SolidProof completed a full review of the project's contracts prior to the presale launch.

The Pepeto platform offers zero-fee token swaps across Ethereum, BNB Chain, and Solana through a native bridge. The platform also includes an AI-based contract risk scanner designed to identify potential vulnerabilities before transactions are committed. All platform trades are routed through the PEPETO token, meaning that trading activity generates transactional demand for the token.

The token is priced at $0.0000001884 during the presale phase, with staking available at 168% APY. At the current presale price, buyers receive approximately 5.3 billion tokens per one thousand dollars invested. The project has indicated that a listing on Binance is forthcoming. Presale-stage tokens typically depend on successful delivery of listings, liquidity, and product execution after fundraising, making verification of project milestones important as the platform moves beyond its launch phase.

Sui (SUI) Trades at $0.75, Down 86% From All-Time High

SUI is trading at $0.75, down 1.81% over the past 24 hours, according to CoinMarketCap. The broader cryptocurrency market experienced upward movement tied to a semiconductor sector rally.

CME Group launched SUI futures on May 4, enabling institutional market participants to access the token through regulated derivatives contracts. Separately, SUI Group Holdings reported holding more than 108 million SUI in its Nasdaq-listed treasury. Futures listings can broaden access for professional traders by supporting hedging and directional exposure without requiring direct token custody.

Despite these institutional developments, SUI remains 86% below its all-time high of $5.35, recorded during a previous market cycle. A full return to peak price levels would require approximately a sixfold increase from current levels. Monthly token unlocks releasing 64 million SUI into circulation continue to add supply, which contributes to ongoing price pressure.

Mutuum Finance Enters Decentralized Lending Market

Mutuum Finance, a decentralized lending protocol offering variable-rate borrowing and collateralized loans, has raised over $21 million. The project launched its V1 on testnet at $0.06 per MUTM token.

Mutuum enters a market segment where established protocols Aave and Compound hold billions of dollars in total value locked. Both incumbent protocols have maintained operations across multiple market cycles and have accumulated extensive security track records through various market conditions. The competitive landscape for new lending protocols entering this space poses challenges, as established platforms benefit from network effects, liquidity depth, and proven reliability under stress. In decentralized lending, liquidity depth and risk controls are central because borrowers and lenders rely on collateral parameters, liquidation systems, and smart contract security rather than traditional credit intermediaries.

Broader Market Context

The SWIFT blockchain pilot involving 17 global banks in tokenized deposit settlement testing represents a development in the broader adoption of distributed ledger technology by traditional financial institutions. The initiative enables round-the-clock settlement on a permissioned ledger, a departure from traditional batch-processing settlement windows.

The pilot's launch coincides with sustained institutional inflows into Bitcoin ETFs, which have recorded consistent positive flows over multiple consecutive trading sessions.

Across the cryptocurrency market, projects continue to develop under varying conditions. SUI's institutional infrastructure expansion through CME futures and treasury allocations at SUI Group Holdings contrasts with the token's significant price decline from all-time highs, compounded by regular token unlock events. Pepeto's presale activity and platform development, including its zero-fee exchange functionality and AI risk scanning tools, reflect ongoing building activity in the meme token sector. Mutuum Finance's testnet launch and fundraising efforts represent continued interest in decentralized lending infrastructure, despite the competitive dominance of established protocols.