Swift, in collaboration with Ant International and HSBC, completed a cross-border tokenized deposit payment test.

Techub News reported, according to South China Morning Post, Ant International, HSBC, and Swift have successfully tested cross-border tokenized deposit transfers using international financial messaging standards. This marks the first case of cross-border tokenized deposit payments utilizing the Swift network and the ISO 20022 messaging standard.

In the test, Ant International and HSBC connected Ant's blockchain infrastructure to the Swift network, enabling real-time cross-border fund management between Singapore and Hong Kong through HSBC's tokenized deposit service. Meanwhile, Swift and HSBC introduced a universal protocol, eliminating the need for Ant International to establish separate bilateral agreements with banks.