Ant Group, HSBC, and Swift have successfully completed a proof of concept (POC) for a cross-border tokenized deposit transfer solution. This initiative, based on the ISO 20022 standard, enables blockchain interoperability on the Swift network. The solution integrates HSBC's Tokenised Deposit Service with Ant Group's proprietary blockchain technology, facilitating real-time, 24/7 cross-border fund transfers and atomic settlements between Singapore and Hong Kong. The implementation of ISO 20022 extends anti-money laundering (AML) and anti-fraud capabilities to tokenized deposit transactions, enhancing interoperability between digital currencies and traditional fiat systems.
Ant Group, HSBC, and Swift Complete Cross-Border Tokenized Deposit POC
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