The post HSBC, Swift, and Ant International make tokenized deposits across borders using ISO 20022 appeared on BitcoinEthereumNews.com.

The initiative announced on Thursday through a press statement from the Singapore-based fintech company brought together Swift’s global financial messaging network, HSBC’s Tokenized Deposit Service, and Ant International’s blockchain technology.  Ant International, HSBC, and Swift have completed a joint proof of concept on cross-border transfer of tokenized bank deposits using ISO 20022 messaging standards. The test was carried out on HSBC’s operations in Singapore and Hong Kong, two of Asia’s most technologically advanced jurisdictions. The proof of concept focused on sending cross-border tokenized deposits in real time and in line with existing banking systems, to reduce inefficiencies in international payments like delays, high costs, and limited transparency. Ant International, HSBC test cross-border tokenized settlements At the core of the initiative was the integration of Ant International’s in-house blockchain infrastructure with Swift’s messaging network ISO 20022. The connection helped the financial firm to conduct real-time treasury management through HSBC Singapore and Hong Kong using HSBC’s Tokenized Deposit Service. HSBC converts traditional bank deposits into digital tokens on a one-to-one basis under the service, with each token representing a unit of fiat currency. The tokens can then be transferred instantly between participating HSBC locations, which are operational 24 hours a day. The introduction of a common protocol, co-built by Ant International, HSBC, and Swift, could simplify how large multinational companies interact with banks’ tokenized deposit services. Ant International would be able to access tokenized services through a standardized framework instead of setting up individual bilateral agreements with each banking partner. ISO 20022 to modernize cross-border payments The ISO 20022 messaging standard has been around since 2004, although most financial institutions had not yet adopted the more structured payment data until the early 2020s. According to a Financial Stability Board progress report released in early October, these payments have only improved marginally over…

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Filed under: News - @ December 13, 2025 7:25 am