HSBC and Standard Chartered completed the first live cross-border transaction on Swift's blockchain-based ledger, roughly a month after the ledger went live in July 2026, according to Cointelegraph and Swift.
The transaction exchanged payment messages between the two banks through the Swift ledger. The resulting obligations were recorded on HSBC's Tokenised Deposit Service and Standard Chartered's tokenized deposit infrastructure. The ledger acted as the orchestration layer, matching and netting obligations, while final settlement ran through existing payment systems.
Seventeen banks across six continents are piloting live transactions with tokenized deposits. The pilot group includes Citi, BNP Paribas, BNY, Wells Fargo, UBS, MUFG, DBS and ANZ. The stated goal is to connect tokenized deposits across banks and enable 24/7 cross-border payments.
Source: Cointelegraph / Swift.
Cointelegraph / Swift