Ant International, HSBC, and Swift Test Cross-Border Tokenized Deposits

According to ChainCatcher, Ant International, HSBC, and Swift have successfully tested cross-border transfers using tokenized deposits. This marks the first instance of utilizing the Swift network and ISO 20022 messaging standards for cross-border tokenized deposit payments. Ant International and HSBC in Singapore connected Ant's blockchain infrastructure to the Swift network during the test. This enabled 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 the solution achieved blockchain interoperability on the Swift network through the ISO 20022 standard, combining Ant International's technology with HSBC's tokenized deposit service.