HSBC and Standard Chartered executed the first live tokenized deposit transaction on SWIFT\u2019s blockchain-based ledger, the two banks said on August 19, six weeks after the network opened to an initial cohort of 17 banks.<\/p>\n
Payment messages moved between HSBC\u2019s Tokenized Deposit Service (TDS) and Standard Chartered\u2019s own tokenized deposit infrastructure, with the resulting obligations recorded on both banks\u2019 systems.<\/p>\n
SWIFT\u2019s ledger worked as an orchestration layer, matching and netting the obligations between the two institutions before final settlement ran through existing payment rails.<\/p>\n
\u201cHSBC\u2019s interoperability transaction with Standard Chartered via SWIFT is a landmark moment for the promise of tokenised deposits,\u201d said Lewis Sun, Head of Digital Currencies at HSBC.<\/p>\n
Mark Willis, Head of Emerging Payments, Transaction Services and Digital Assets at Standard Chartered, noted that \u201ctokenized deposits are a key pillar of Standard Chartered\u2019s digital assets strategy, which aims to build end-to-end solutions.\u201d<\/p>\n
SWIFT says the ledger MVP is built on open-source foundations, using an Ethereum Virtual Machine-compatible architecture based on Hyperledger Besu, and that it is designed to integrate with the broader digital asset ecosystem.<\/p>\n
SWIFT operates the ledger itself, handling orchestration of transaction workflows, validation of funding commitments, and coordination of interbank processes. Consensys built the conceptual prototype when Swift announced the project in September 2025.<\/p>\n
Seventeen banks from six continents are preparing to pilot live transactions, among them ANZ, BNP Paribas, BNY, Citi, DBS, MUFG, UBS, and Wells Fargo. CryptoPotato covered that SWIFT has experimented<\/a> before with moving tokenized value across public and private blockchains.<\/p>\n HSBC has put bank money on a ledger before, joining<\/a> a S$400 million digital bond issuance with SGX and Temasek that cut primary settlement from five days to two.<\/p>\n \u201cWith our new ledger capability, we\u2019re extending the trust and stability of established finance into the frontiers of digital money,\u201d said Thierry Chilosi, Chief Business Officer at Swift.<\/p>\n American banks are building a competing rail. The Clearing House is developing a tokenized deposit network called<\/a> The Bridge with JPMorgan Chase, Bank of America, Citigroup and Wells Fargo, targeted at the first half of 2027 and open to all US banks. Bank of America\u2019s Mark Monaco said clients are not \u201cbeating down the door\u201d for tokenized deposits yet.<\/p>\n SWIFT moves the equivalent of world GDP every two to three days across more than 200 markets. The cooperative says 75% of payments on its network reach beneficiary banks within 10 minutes.<\/p>\n The post HSBC and Standard Chartered Run First Live Tokenized Deposit Transfer on SWIFT\u2019s Blockchain Ledger<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" HSBC and Standard Chartered executed the first live tokenized deposit transaction on SWIFT\u2019s blockchain-based ledger, the two banks said on August 19, six weeks after the network opened to an initial cohort of 17 banks. Payment messages moved between HSBC\u2019s Tokenized Deposit Service (TDS) and Standard Chartered\u2019s own tokenized deposit infrastructure, with the resulting obligations […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-216058","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/216058"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=216058"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/216058\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=216058"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=216058"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=216058"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Rival Network Targets 2027<\/h2>\n