Standard Chartered and HSBC execute first live tokenised deposit transaction on Swift’s ledger

Standard Chartered and HSBC have announced the successful completion of bank-to-bank tokenised deposit interoperability through the execution of the first live cross-border transaction on Swift’s blockchain-based ledger. The live transaction builds on Swift’s July 2026 announcement that its blockchainbased ledger was ready for initial use, with 17 banks across six continents preparing to pilot live transactions using tokenised deposits for 24/7 payment availability and better liquidity efficiency. This latest announcement represents the first interbank transaction executed on Swift’s ledger which acted as a secure orchestration layer, enabling the obligations to be matched and netted between the two banks prior to final settlement through existing systems. For clients, this highlights the potential for cross-border payments to better support an increasingly 24/7 global economy.

Lewis Sun, Head of Digital Currencies, HSBC, said: “HSBC’s interoperability transaction with Standard Chartered via Swift is a landmark moment for the promise of tokenised deposits. It demonstrates how digital money issued by banks can be interoperable across institutions while maintaining the integrity and regulatory oversight of the existing financial ecosystem. Tokenised deposit interoperability underscores how we can bring together different infrastructures to benefit our clients. For corporates, this is about solving real-world challenges, such as moving liquidity around the world, across financial institutions, increasing cash visibility and reducing the complexities sometimes associated with traditional cross-border transactions.”