SINGAPORE–(BUSINESS WIRE)–Ant International, HSBC and Swift today have completed a successful Proof of Concept (POC) for the cross-border transfer of tokenised deposits using ISO 20022 standards. The initiative leverages Swift’s global messaging network and HSBC’s recently launched Tokenised Deposit Service, combined with Ant International’s blockchain technology for payments solution.
The POC marks a key milestone in Ant International, HSBC, and Swift’s efforts to help businesses unlock the full benefits of tokenisation for enhanced liquidity, programmable finance, and 24/7 real-time settlement.
As part of this project, Ant International and HSBC were able to connect Ant International’s own blockchain infrastructure with Swift’s networks. This made it possible for HSBC’s Tokenised Deposit Service to administer treasury in real time across borders through HSBC Singapore and Hong Kong. By creating a common protocol with Swift and HSBC, Ant International may not need to make separate deals with each of its bank partners. This would make it easier and more efficient for Ant International to use banks’ tokenized deposit services.
Combining the openness and speed of tokenization with the size and safety of existing payment systems, the connection to Swift’s network makes Ant International’s new blockchain-based solution even safer and more compliant.
The solution builds on HSBC’s existing anti-money laundering (AML) systems, anti-fraud capabilities, and infrastructure to create the Tokenised Deposit Service. This makes it easier for banks and customers outside of HSBC to use ISO 20022 and the Swift network, which will make it easier for banks and customers to adopt the service when it is rolled out in the future. It will also make it easier for digital money and traditional fiat money to work together.
“We’re excited to show how ISO 20022 data formats, when used with new technologies like blockchain, can bring a lot of value to the whole community,” said Shirish WADIVKAR, Global Head of Payments and Cash Management at Swift. This connection not only speeds up the processing of payments, but it also improves the screening of AML and sanctions. As the financial ecosystem changes, we are still dedicated to creating a future of seamless worldwide interoperability, based on ISO 20022’s structured data and in line with the needs of financial institutions for trust, efficiency, and regulatory consistency.
Lewis Sun, Global Head of Domestic Payments and Emerging Payments at HSBC, said, “Working with Swift and Ant International is an important step toward making the digital money ecosystem more connected for our clients.” As we grow HSBC’s Tokenised Deposit Service, it’s important to make sure that it works with both new blockchain networks and old payment systems. We are giving our corporate clients more options for managing liquidity around the world by making it possible for tokenized deposits to travel safely and quickly across borders. This is because they are used to traditional banking and the benefits of next-generation digital infrastructure.
“Since joining Swift’s network last year, we have worked closely to integrate our blockchain capabilities with their robust payment infrastructure,” said Kelvin Li, General Manager of Platform Tech at Ant International. We expect that our work together can help make tokenized deposits more standardized under ISO 20022. We will keep working with our partners to make it easier for money to flow around the world, so businesses can make cross-border payments that are more clear, safe, and efficient.
The three parties will keep building on the POC’s foundation by looking at future pilot tests and use cases for commercial use.
Service for Tokenized Deposits
HSBC’s Tokenised Deposit Service lets its business clients manage and move money in real time, 24/7, by turning deposits into digital tokens (one token for every dollar). This service is based on blockchain technology.
Ant International in a Nutshell
Ant International is a top global provider of digital payments, digitization, and financial technology. Its main office is in Singapore, and its main operations are in Asia, Europe, the Middle East, and Latin America. Our unified techfin platform helps businesses and banks of all sizes thrive in an inclusive way by providing a full range of cutting-edge digital payment and financial services solutions. This is possible because of partnership between the private and public sectors.
About Swift
Swift is a cooperative owned by people all around the world and is the best at providing safe financial messaging services. We give our community a place to send messages and set rules for how to do so. We also offer goods and services to help with access and integration, identification, analysis, and following the rules.
Our communications platform, products, and services connect over 11,500 banking and securities companies, market infrastructures, and corporate customers in more than 200 countries and territories. Swift doesn’t hold money or manage accounts for customers, but we do allow our global community of users to communicate securely and send standardized financial messages in a reliable way. This helps trade and commerce around the world, as well as global and local financial flows.
We are always looking for methods to cut expenses, minimize risks, and get rid of operational inefficiencies. We also support our community in dealing with cyber threats and strive for operational excellence. Our goods and services help our community meet its demands for access and integration, business intelligence, reference data, and compliance with financial crime laws. Swift also brings together people in the financial world from all over the world, as well as from specific regions and countries, to talk about topics that are important to them, set standards, and change how the market works.
Swift is based in Belgium, and its international governance and monitoring make its cooperative structure even more open to everyone throughout the world. Swift has offices all around the world, therefore it is always present in all the major financial centers.
About The Hongkong and Shanghai Banking Corporation Limited
The Hongkong and Shanghai Banking Corporation Limited is the first bank in the HSBC Group. HSBC has offices in 57 countries and territories and services customers all over the world. HSBC is one of the biggest banks and financial service companies in the world, with assets at US$3,214 billion as of June 30, 2025.