Standard Chartered and HSBC have completed the first live cross-border transaction on Swift’s blockchain-based ledger, demonstrating interoperability between the banks’ tokenized deposit systems a month after the ledger’s launch.
StanChart, HSBC execute first live transaction on Swift blockchain ledger
The transaction connected the banks’ separate tokenized deposit systems through Swift’s ledger, marking a step toward interoperable, 24/7 cross-border payments.
Cointelegraph by Nate Kostar
Publisher Cointelegraph
Aug 19, 2026 at 4:30 PM UTC · 2 Min. Lesezeit

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17 banks Pilot banks preparing
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The transaction involved payment messages exchanged between the two through Swift’s ledger, with the resulting obligations recorded on HSBC’s Tokenised Deposit Service and StanChart’s tokenized deposit infrastructure.
Swift’s ledger acted as an orchestration layer, matching and netting the obligations between the banks before final settlement through existing payment systems.
The transaction follows a July announcement from Swift, the world’s largest financial messaging network, that its blockchain-based ledger was ready for initial use, with 17 banks across six continents preparing to pilot live transactions using tokenized deposits.
Other banks in the pilot group Citi, BNP Paribas, BNY, Wells Fargo, UBS, MUFG, DBS and ANZ.
The ledger is designed to connect tokenized deposits issued on separate bank infrastructure, enabling 24/7 cross-border payments while retaining existing settlement, compliance and risk controls.
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