<div id="readability-page-1">Ant International, HSBC and Swift have successfully tested cross-border transfers of tokenised deposits using an international financial messaging standard, in a move that could streamline global blockchain-based payments and corporate treasury management.\nThe milestone, announced on Thursday, marked the first case leveraging the Swift network and ISO 20022 as a messaging standard in cross-border payments using tokenised deposits.\nThe standard is a universal language for exchanging electronic data in financial business transactions.\nIn the test, Singapore-based Ant International and HSBC connected Ant’s blockchain infrastructure to Swift’s network, allowing real-time cross-border treasury management between HSBC Singapore and Hong Kong through the bank’s tokenised deposit services.\nMeanwhile, Swift and HSBC introduced a common protocol that removed the need for Ant International to establish individual bilateral arrangements with banks.\n“[This] ISO 20022-enabled solution allows blockchain interoperability on Swift’s network, using Ant International’s technology and HSBC’s Tokenised Deposit Service,” the three firms said in a joint statement.\n\nThe initiative would allow digital money issuers to use the financial messaging standard and Swift’s network to simplify adoption by banks and external clients, instead of building separate connections with each institution, while enhancing interoperability between digital and traditional fiat money.\nSwift’s messaging platform, products and services connect more than 11,500 banking and securities organisations, market infrastructures and corporate customers in more than 200 countries and territories.\n“This integration not only speeds up payment processing but also enhances [anti-money-laundering] and sanctions screening,” said Shirish Wadivkar, global head of payments and cash management at Swift.\n“We are excited to demonstrate how ISO 20022 data formats, when combined with new technologies like blockchain, bring significant value to the entire community.”\nLewis Sun, global head of domestic payments and emerging payments at HSBC, said the partnership with established payment rails and emerging blockchain networks was critical as the bank expanded its tokenisation services.\n“By enabling tokenised deposits to move securely and efficiently across borders, we are giving our corporate clients more choice in how they manage liquidity globally,” Sun said.\nLast year, Ant International became a member of Swift and later joined its programme that aims to enhance transparency in cross-border payments by testing end-to-end transaction tracking across banks, payment service providers and e-wallets.\n“We hope our collaboration can guide the standardisation of tokenised deposits under ISO 20022,” said Kelvin Li, general manager of platform tech at Ant International.\nAnt International, a spin-off of fintech company Ant Group and an affiliate of Alibaba Group Holding, owner of the Post, has been working with a number of banks on its tokenisation initiatives.\nLast month, it unveiled work with UBS’ blockchain payments platform to step up its global treasury operations. The firm is also involved in the Hong Kong central bank-led digital asset project.\n“We will continue to enable interoperability in global money movement together with our partners, so businesses can access more transparent, secure and efficient cross-border payments,” said Li.\n</div>

HSBC

00005

688688

HSBA

<p>Ant International, HSBC, and Swift successfully tested cross-border transfers of tokenised deposits using Swift's network and ISO 20022 messaging standard. This initiative aims to streamline global blockchain-based payments and corporate treasury management. The integration enhances payment processing, anti-money-laundering, and sanctions screening. The collaboration seeks to standardize tokenised deposits under ISO 20022, enabling secure and efficient cross-border liquidity management for corporate clients.</p>

- Ant International, HSBC, and Swift have tested cross-border transfers of tokenised deposits using the Swift network and ISO 20022 messaging standard.  
- This initiative aims to streamline global blockchain-based payments and enhance corporate treasury management by allowing real-time transactions without the need for individual bank arrangements.  
- The collaboration is expected to improve payment processing speed and enhance compliance measures, while promoting interoperability between digital and traditional fiat currencies.  

Swift pilots blockchain payments with Ant International and HSBC in cross-border test