SWIFT has confirmed a successful pilot connecting JPMorgan's Kinexysand Deutsche Börse's Clearstream DLT over its global messaging rails. This isn't another lab demo; it is the world's dominant interbank network, wiring together tokenised deposits from Tier?1 institutions. It marks the moment the core plumbing of global banking starts to support bank?issued digital money at scale, without touching public blockchains or private stablecoins.