HSBC and Standard Chartered Complete First Live Transaction on Swift Blockchain Ledger
Swift’s ledger matched and netted obligations recorded on the banks’ separate platforms, but final settlement still ran through existing systems. 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.
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Key Facts
- Fact 1: That design follows the model Swift outlined in July, when it said the ledger was ready for initial use and 17 banks across six continents were preparing to pilot live transactions.
Swift’s ledger matched and netted obligations recorded on the banks’ separate platforms, but final settlement still ran through existing systems. 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 the resulting obligations on HSBC’s Tokenised Deposit Service and Standard Chartered’s tokenized-deposit infrastructure. Swift’s ledger then matched and netted those obligations before final settlement took place through existing systems. The practical change is interoperability between two banks’ separate tokenized-deposit platforms.
(Original synthesis pending human/AI review — generated by the stub provider by selecting real sentences from the source material, not by writing new analysis or commentary.)
Original source: The Defiant
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