Swift, Ant International, and HSBC reported that they had completed a pilot demonstrating cross-border transfers of tokenized deposits using the ISO 20022 financial messaging standard. The initiative was presented as a breakthrough that could streamline blockchain-based payments while making treasury operations more efficient for global enterprises. The announcement marked the first time the Swift network and ISO 20022 were used together to support international payments built on tokenized deposit infrastructure.
ISO 20022 is recognized as a universal standard for structuring electronic financial messages across banking systems. By applying this standard to tokenized deposits, the partners suggested that banks and payment providers would be able to integrate blockchain-driven money flows into legacy systems without requiring customized connections for every institution. The test connected Ant International’s blockchain platform with the Swift network, enabling real-time treasury operations between HSBC Singapore and HSBC Hong Kong through the bank’s tokenized deposit services.
The partners also introduced a common protocol designed to eliminate the need for Ant International to maintain multiple bilateral arrangements with different banks. This shared method positions Swift’s infrastructure as a bridge that could help digital money issuers adopt blockchain-based payment systems more efficiently. The aim is to allow tokenized and traditional fiat money to interact seamlessly across global networks.
Creating a Unified Messaging Layer for Digital and Traditional Money
The companies involved indicated that the ISO 20022-driven framework demonstrated how blockchain networks could communicate through Swift’s global messaging system. They conveyed that Ant International’s technology, paired with HSBC’s tokenized deposit service, enabled interoperability across systems that traditionally operate in separate environments.
Swift highlighted the broader significance of the test by noting that its network connects more than 11,500 banks, securities firms, market infrastructures, and corporate clients in over 200 jurisdictions. The organization emphasized that integrating blockchain-based deposits within this established network could accelerate payment processing while improving compliance procedures, including anti-money-laundering monitoring and sanctions screening. Executives at Swift suggested that combining structured ISO 20022 data with emerging technologies such as blockchain has the potential to deliver substantial value across the global financial ecosystem.
HSBC added that collaboration between traditional payment rails and blockchain-based networks had become essential as the bank expands its activity in tokenization. The bank expressed that enabling tokenized deposits to move securely across borders would give corporate clients more flexibility in managing liquidity worldwide. The test was described as part of HSBC’s broader strategy to build infrastructure that can support future digital asset-based financial operations.
Strengthening Standards for Tokenized Deposits
Ant International noted that it joined the Swift network last year and later participated in a program focused on increasing transaction transparency in cross-border payments. As part of that initiative, the company has been working with banks, payment service providers, and e-wallet operators to test full life-cycle transaction tracking.
Executives at Ant International stated that the collaboration with Swift and HSBC could help shape standardization efforts for tokenized deposits under ISO 20022. They explained that the company has been expanding its tokenization partnerships globally, including work with UBS’ blockchain-based payment platform and participation in a digital asset project led by Hong Kong’s central bank.
Ant International suggested that it plans to continue building cross-network interoperability for digital money movement. The organization indicated that its goal is to support businesses seeking transparent, secure, and more efficient cross-border payment channels as tokenized money increasingly becomes part of corporate financial operations.
