HSBC and Standard Chartered Execute First Tokenized Deposit Transaction

Interbank Tokenized Transactions

On the 19th, British banks HSBC and Standard Chartered announced that they had conducted the first interbank cross-border transaction using tokenized deposits on a blockchain-based ledger operated by SWIFT.

SWIFT is an international organization that operates a communication network for exchanging international money transfer instructions among banks. This time, they have newly established a blockchain-based ledger, which is being used to record and settle tokenized deposits issued by banks.

This transaction between HSBC and Standard Chartered...