HSBC, Standard Chartered Execute First Live Transaction on Swift Blockchain

HSBC, Standard Chartered Execute First Live Transaction on Swift Blockchain

The transaction connected the banks’ separate tokenized deposit systems through Swift’s ledger, marking a step toward interoperable, 24/7 cross-border payments.

HSBC, Standard Chartered execute first live banking transaction on Swift’s 24/7 ledger

CoinStats - HSBC, Standard Chartered execute first live b...

The cross-border transaction is Swift’s first in a pilot project as it tests settlement in its push to remain relevant as stablecoins and tokenized deposits become widely used worldwide.

HSBC and Standard Chartered Complete First Live Transaction on Swift Blockchain Ledger

HSBC and Standard Chartered completed the first live cross-border bank-to-bank tokenized-deposit transaction on Swift’s blockchain-based ledger, advancing the system from readiness for initial use to its first interbank transaction. The banks exchanged payment messages using the ledger and recorded... Read the full story at The Defiant

HSBC and Standard Chartered Complete First Swift Tokenized Deposit Deal

HSBC and Standard Chartered have completed what the banks described as the first live cross-border transaction involving tokenized deposits between two banks on Swift’s blockchain-based ledger, marking a significant step in efforts to modernize international payments infrastructure. The transaction demonstrated that regulated digital representations of bank deposits can be exchanged across different banking systems. The initiative is also intend…

Why HSBC and Standard Chartered chose Swift for intrabank tokenised deposits

The first intrabank tokenised deposit on the Swift blockchain ledger between HSBC and Standard Chartered demonstrates the rise in new 24/7, instant settlement opportunities for global banks.  HSBC and Standard Chartered have today (19 August) completed the first bank-to-bank tokenised deposit settlement using Swift’s new blockchain-based ledger.  The cross-border transaction was conducted using Swift’s payment messaging ledger, acting as an orch…