HSBC, Standard Chartered Complete First Live Cross-Border Blockchain Transaction

HSBC and Standard Chartered have completed the first live interbank transaction on Swift's blockchain-based ledger. The transaction connected their separately operated tokenized deposit platforms through a shared coordination layer.

The ledger matched and netted payment obligations before final settlement occurred through existing banking systems. HSBC recorded its obligation through its Tokenised Deposit Service, while Standard Chartered used its own tokenized deposit infrastructure.

The transaction was part of Swift's pilot for interoperable tokenized deposit live transactions globally. Seventeen banks across six continents joined the rollout, including ANZ, BNP Paribas, and HSBC.