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Swift partners with Ant International and HSBC to complete cross-border tokenized deposit payment tests

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2025-12-12 02:00:00
According to the South China Morning Post, Ant International, HSBC, and Swift have successfully tested the use of tokenized deposits for cross-border transfers, marking the first example of cross-border tokenized deposit payments using the Swift network and the ISO 20022 messaging standard.
In the test, Ant International and HSBC in Singapore connected Ant's blockchain infrastructure to the Swift network, enabling real-time cross-border money management between Singapore and Hong Kong through HSBC's tokenized deposit service. Swift and HSBC introduced a common protocol that eliminates the need for Ant International to have separate bilateral arrangements with banks.
The three companies said the solution enables blockchain interoperability on the Swift network through the ISO 20022 standard, combining Ant International's technology with HSBC's tokenized deposit service.
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