HSBC and Standard Chartered Execute First Live Tokenised Deposit Transaction on Swift’s Ledger

Asset Servicing Times

"HSBC and Standard Chartered announced the completion of bank-to-bank tokenised deposit interoperability through the first live cross-border transaction on Swift’s blockchain-based ledger. The transaction — conducted through exchange of payment messages between the two banks using Swift’s ledger — was recorded as tokenised deposit obligations on both HSBC’s Tokenised Deposit Service (TDS) and Standard Chartered’s tokenised-deposit infrastructure."