Swift links HSBC and StanChart tokenized deposits

Swift, HSBC and Standard Chartered completed the first live interbank transaction on Swift’s blockchain-based ledger on Aug. 19, 2026. Summary Swift connected HSBC and Standard Chartered tokenized deposit platforms in its first live interbank transaction. The ledger matched and netted payment obligations before final settlement occurred through existing banking systems. HSBC recorded obligations through its Tokenised Deposit Service while Standard Chartered used its separate infrastructure. Seventeen banks across six continents joined Swift’s pilot for interoperable tokenized deposit live transactions globally. HSBC’s service currently operates in six markets and supports seven currencies, including dollars and euros. The transaction connected two independently operated tokenized deposit systems through a shared coordination layer. HSBC recorded its resulting obligation through the bank’s Tokenised Deposit Service. Standard Chartered used its own tokenized deposit infrastructure, according to the banks’ joint release. The parties did not disclose the transaction’s value, currency, customers or originating jurisdictions. They also did not announce a commercial launch date. Swift con...