Standard Chartered and HSBC completed the first live cross-border transaction on Swift’s blockchain-based ledger, demonstrating interoperability between their respective tokenized deposit systems. Swift’s ledger acted as an orchestration layer, matching and netting obligations between the two banks before final settlement through existing payment systems. Seventeen banks across six continents are preparing to pilot live transactions using tokenized deposits, including Citi, BNP Paribas, BNY, Wells Fargo, UBS, MUFG, DBS and ANZ. HSBC plans to expand its Tokenised Deposit Service to the US and UAE in the first half of 2026, following deployments in Hong Kong, Singapore, the UK and Luxembourg. Standard Chartered also participated in July in the Bank for International Settlements’ Project Agorá settlement trials, which processed approximately $1 million across six currencies.
Source: Read the original article
