Swift, together with Ant International and HSBC, has completed a test of cross-border tokenized deposit payments.

according to the South China Morning Post, Ant International, HSBC, and Swift have successfully tested cross-border transfers using tokenized deposits. This is the first case of using the Swift network and ISO 20022 message standards for cross-border tokenized deposit payments.

In the test, Ant International in Singapore and HSBC connected Ant's blockchain infrastructure to the Swift network, enabling real-time cross-border fund management between Singapore and Hong Kong through HSBC's tokenized deposit service. Swift and HSBC introduced a universal protocol, allowing Ant International to avoid establishing separate bilateral arrangements with each bank.

The three companies stated that this solution achieves blockchain interoperability on the Swift network through the ISO 20022 standard, combining Ant International's technology with HSBC's tokenized deposit service.