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HSBC, Standard Chartered Execute First Live Transaction on Swift Blockchain Ledger

August 19, 202601:30 PM
HSBC, Standard Chartered Execute First Live Transaction on Swift Blockchain Ledger

HSBC and Standard Chartered have completed the first live cross-border transaction on Swift's blockchain-based ledger, demonstrating interoperability between the banks' tokenized deposit systems. This milestone marks a significant step toward achieving interoperable, 24/7 cross-border payments in the global financial system.

The transaction involved payment messages exchanged between the two banks through Swift's ledger, with resulting obligations recorded on HSBC's Tokenised Deposit Service and Standard Chartered's tokenized deposit infrastructure. Swift's ledger functioned as an orchestration layer, matching and netting obligations between banks before final settlement through existing payment systems, representing a major advancement for blockchain interoperability and banking innovation.

This is a summarized and adapted version by Artificial Intelligence. To read the complete original story, visit the official source.

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