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

Ant International, HSBC, and SWIFT, a global financial messaging service provider, recently announced the successful completion of a cross-border transfer test based on tokenized deposits.

This is a groundbreaking case globally, marking the first time that cross-border tokenized deposit payments have been achieved using the SWIFT network and the ISO 20022 messaging standard, signifying a crucial step forward in the integration of blockchain technology with existing financial infrastructure.

In this test, Ant International, located in Singapore, and HSBC connected Ant's advanced blockchain infrastructure to the SWIFT network and utilized HSBC's tokenized deposit service to achieve real-time cross-border fund management and transfers between Singapore and Hong Kong.

In this collaboration, SWIFT and HSBC jointly introduced a common protocol, eliminating the need for Ant International to establish complex bilateral connections with each bank individually, significantly improving access efficiency and system interoperability.

The three parties stated that the solution fully utilizes the ISO 20022 standardized messaging system, achieving seamless communication and data exchange between the blockchain environment and the SWIFT network.

By combining Ant International's blockchain technology capabilities with HSBC's tokenized deposit service, this pilot project not only validated the technological feasibility but also provided a scalable reference paradigm for financial institutions to conduct tokenized asset circulation and cross-border settlement under compliant and secure conditions.

This collaboration further demonstrates that traditional financial infrastructure and emerging distributed ledger technology can collaborate through standardized interfaces, providing more efficient, transparent, and flexible solutions for global capital flows.