BNP Paribas and HSBC process Siemens payment on SWIFT shared ledger
- —The SWIFT ledger coordinates tokenized deposit transfers, with final settlement on existing systems
- —At least 19 institutions are expected to use the ledger in multiple currencies by end-2026
- —BNP Paribas uses Metaco technology, acquired by Ripple in 2023
- —No evidence links the SWIFT ledger to Ripple technology or XRP usage
Why it matters: Major banks moving corporate payments onto tokenized deposits intensifies competition with public blockchains and stablecoins.
Source: TokenPost