HSBC and Standard Chartered said they have completed what they described as the world’s first cross-border interbank transaction involving tokenized deposits on a blockchain ledger operated by SWIFT. The transaction used SWIFT’s newly built blockchain infrastructure to record and settle bank-issued tokenized deposits. It also included netting of obligations before final settlement. SWIFT, which operates the global messaging network used for international bank payment instructions, said the blockchain ledger supported interbank tokenized transactions in this case. The announcement points to another live use case for tokenized bank liabilities within existing cross-border financial infrastructure.
HSBC and Standard Chartered said they had completed the world’s first cross-border interbank transaction involving tokenized deposits on a blockchain ledger operated by SWIFT.
The transaction used SWIFT’s newly established blockchain infrastructure to record and settle bank-issued tokenized deposits, while also enabling netting of obligations before settlement.
SWIFT, the operator of the global communications network used for international interbank payment instructions, supported the interbank tokenized transaction through its blockchain ledger.
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