HSBC and Standard Chartered completed the first live cross-border bank-to-bank tokenized-deposit transaction on Swift’s blockchain-based ledger. The two banks exchanged payment messages and recorded their respective obligations on their tokenized-deposit infrastructures. Swift’s ledger matched and netted those obligations before final settlement through existing systems. This model enables moving liquidity between institutions outside conventional operating hours without either bank abandoning its own deposit infrastructure. The transaction’s value, currencies and geographic corridor remain undisclosed.
Source: Read the original article
