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>>HSBC, Swift, and Ant International are transitioning tokenized deposits through ISO 20022

HSBC, Swift, and Ant International are transitioning tokenized deposits through ISO 20022

crypthub

4 days ago

Cross‑border Tokenization Initiative

A Singapore fintech announced a collaboration linking Swift’s messaging network, HSBC’s Tokenized Deposit Service, and Ant International’s blockchain. The three completed a proof‑of‑concept for real‑time tokenized bank‑deposit transfers using ISO 20022 standards. Tests ran on HSBC’s Singapore and Hong Kong operations, aiming to cut delays, costs, and opacity in international payments.

Integration and Token Mechanics

Ant’s in‑house blockchain was integrated with Swift’s ISO 20022 messaging to enable real‑time treasury flows. HSBC converts fiat deposits into one‑to‑one digital tokens that can move instantly between its 24‑hour locations. This common protocol could let multinational firms access tokenized services without negotiating separate bilateral agreements.

ISO 20022 Impact and Industry Views

ISO 20022, adopted widely only in the early 2020s, provides structured data that reduces intermediaries and speeds settlement. The solution extends HSBC’s compliance framework, including AML and sanctions checks. Executives from Swift, HSBC, and Ant highlighted the standards’ role in fostering trust, efficiency, and regulatory consistency across global payments.

Ant International’s AI Achievement

Separately, Ant won first place at the NeurIPS Fairness in AI Face Detection competition, detecting AI‑generated faces with 99.8% accuracy across diverse demographics. The award underscores the firm’s commitment to secure, unbiased AI that supports inclusive financial services worldwide.

HSBC, Swift, and Ant International are transitioning tokenized deposits through ISO 20022

Cross‑border Tokenization Initiative

Integration and Token Mechanics

ISO 20022 Impact and Industry Views

Ant International’s AI Achievement

ISO 20022 Impact and Industry Views