{
  "id": 2452728,
  "title": "Standard Chartered and HSBC Complete First Interbank Transaction on Swift’s Blockchain-Based Ledger",
  "url": "https://urgent.news/2026/08/21/standard-chartered-and-hsbc-complete-first-interbank-transaction-on",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-21T23:42:50.000Z",
  "source": {
    "name": "PYMNTS",
    "slug": "pymnts",
    "url": "https://www.pymnts.com/blockchain/2026/standard-chartered-and-hsbc-complete-first-interbank-transaction-on-swifts-blockchain-based-ledger/"
  },
  "original_language": "en",
  "account": "Standard Chartered and HSBC successfully completed their first interbank transaction utilizing Swift's blockchain-based ledger, as announced in a press release on August 19. This live cross-border transaction showcased the interoperability and operational capabilities of the ledger, advancing the industry's progress in 24/7 cross-border payments. By employing tokenized deposits through the ledger, the banks executed payment messages, with the obligations recorded and matched on both HSBC's Tokenised Deposit Service (TDS) and Standard Chartered's tokenized-deposit infrastructure. Swift's blockchain-based ledger served as a secure orchestration layer, facilitating the final settlement through existing systems. Lewis Sun, HSBC's head of digital currencies, emphasized that the transaction demonstrates the interoperability of digital money across institutions while maintaining regulatory oversight and efficiency for corporates. Similarly, Standard Chartered's Mark Willis highlighted tokenized deposits as a crucial component of the company's digital asset strategy, enabling clients to transact, settle, and manage liquidity and value across borders. As demand for faster and more efficient liquidity management grows, interoperable tokenized deposits are expected to play an increasingly significant role in corporate and institutional treasury operations. Swift announced in July that its blockchain-based ledger was prepared for use, with 17 banks set to conduct live pilot transactions. Thierry Chilosi, Swift's chief business officer, stated that the new ledger capability extends the trust and stability of established finance into the realm of digital money.",
  "summary": "Standard Chartered and HSBC have completed the first interbank transaction executed on Swift’s blockchain-based ledger, Standard Chartered said in a Wednesday (Aug. 19) press release. This live cross-border transaction demonstrated interbank operability and helped advance industry progress on 24/7 cross-border payments, according to the release. By doing so, it marked a milestone in the use of…",
  "key_points": [],
  "editors_take": "This development shows that blockchain-based ledger technology can enable efficient and secure cross-border payments with regulatory oversight, a capability that is likely to grow in importance for corporate and institutional treasury operations.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}