Citi, HSBC, UBS among 17 banks to pilot tokenized deposits via Swift blockchain
Today Swift announced that its blockchain based shared ledger is ready for initial use, with 17 banks from six continents preparing to pilot live cross border payments using tokenized deposits.
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Swift's Besu-based shared ledger, unveiled at Sibos in September 2025, went live July 9 as an orchestration layer for round-the-clock settlement, with HSBC already connecting its Tokenised Deposit Service.
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