SWIFT Launches Blockchain Ledger for Tokenized Deposits With DBS, HSBC and Citi
- —The SWIFT ledger sequences and validates transactions while leaving final settlement on banks' existing rails
- —The first live use case is 24/7 cross-border payments using bank-issued tokenized deposits
- —DBS called XRP's ecosystem the most practical way to link digital value with payment flows
- —More than 40 institutions are involved in the design, with the project moving from concept to testing in under a year
Why it matters: Major banks testing blockchain settlement inside regulated channels accelerates institutional adoption of tokenized deposits.
Source: DailyCoin