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7 clusters · 33 sources · 41 days · First seen · Last updated

Tokenised cross-border payment pilot developments

Overview

Financial institutions and international organizations are conducting pilots to test tokenised cross-border payments and interbank interoperability. In July 2026, the Bank for International Settlements (BIS) and the Institute of International Finance conducted Project Agorá, involving 28 banks and real-value payments totaling approximately CHF 800,000. Building on these efforts, HSBC and Standard Chartered executed the first live cross-border tokenised deposit transaction using Swift’s blockchain-based ledger. In August 2026, Swift transitioned its blockchain pilot from testing to live settlement, with digital asset provider Taurus integrating its custody and tokenisation platforms to manage programmable wallets and tokenised money.

In September 2026, Citi became the first U.S. bank to conduct live native ledger transactions on Swift’s blockchain, collaborating with First Abu Dhabi Bank (FAB) and Oversea-Chinese Banking Corporation (OCBC) to demonstrate 24/7 cross-currency settlements. On September 5, 2026, DBS Bank and Citigroup completed the first weekend cross-border US dollar payment between Singapore and the United States using tokenised deposits. Processed via Swift’s Digital Ledger, the transaction settled in minutes, bypassing traditional two-business-day timelines and weekend closures. Unlike stablecoins, these deposits represent regulated commercial bank deposits held on bank balance sheets, using the Swift ledger as an orchestration layer.

Expanding on these capabilities, Citigroup announced plans to launch a cross-border remittance service for Japanese companies by the end of 2026 via “Citi Token Services.” This service aims to enable near-instantaneous foreign currency transfers during nights and holidays across Citigroup locations in the United States, United Kingdom, Singapore, Hong Kong, and Ireland. Furthermore, major U.S. banks, including Citigroup and JPMorgan Chase, are reportedly planning a joint network for transferring tokenised deposits, managed by The Clearing House, with a target launch in early 2027.

Entities

HSBC · Standard Chartered · DBS Bank · Citigroup · SWIFT

Timeline

  1. 3 days ago

    [BUSINESS] 9 sources
    Citigroup to launch blockchain tokenized deposit service in Japan

    Citigroup will launch blockchain-based tokenized deposit services in Japan by late 2026, enabling Japanese firms to conduct instant, 24/7 cross-border foreign currency transfers.

  2. 5 days ago

    [BUSINESS] 8 sources
    DBS and Citi complete first weekend cross-border USD payment via Swift ledger

    DBS and Citi completed the first weekend cross-border USD payment between Singapore and the US using tokenized deposits on Swift’s Digital Ledger, reducing settlement time from days to minutes.

  3. 9 days ago

    [BUSINESS] 6 sources
    Citi processes live transactions on Swift’s blockchain ledger

    Citi has become the first U.S. bank to process live transactions on Swift’s blockchain-based ledger, partnering with FAB and OCBC to enable real-time, 24/7 cross-border payments.

  4. 17 days ago

    [BUSINESS] 3 sources
    Taurus integrates with Swift blockchain ledger for tokenized payments

    Taurus has connected its digital asset platforms to Swift’s blockchain ledger, enabling banks to use tokenized deposits for continuous cross-border payments.

  5. 21 days ago

    [BUSINESS] 4 sources
    SWIFT completes first live blockchain payment with HSBC and Standard Chartered

    HSBC and Standard Chartered have completed the first live cross-border tokenized deposit settlement via SWIFT’s blockchain infrastructure, enabling real-time, 24/7 programmable payments.

  6. 24 days ago

    [BUSINESS] 8 sources
    HSBC and Standard Chartered complete first Swift blockchain ledger transaction

    HSBC and Standard Chartered have executed the first live cross-border transaction using tokenised deposits on Swift’s blockchain-based ledger, demonstrating interbank interoperability.

  7. about 1 month ago

    [TECHNOLOGY] 6 sources
    BIS Project Agorá demonstrates real‑value tokenised cross‑border payments

    BIS’s Project Agorá pilot saw 28 institutions settle real‑value tokenised payments worth CHF 800 k in 80‑second average times; Lloyds completed three multi‑currency tokenised deposit transactions, showcasing a

Sources

asianbankingandfinance.net · bitcoinethereumnews.com · bittimes.net · blockcast.it · blockchainreporter.net · blockzeit.com · cahighways.org · coin-turk.com · coinpost.jp · cointelegraph.com · cointrust.com · cryptoast.fr · cryptobreaking.com · cryptobriefing.com · detlionblood32.wordpress.com · eurweb.com · financialit.net · fintechnews.sg · forkast.news · fxnewsgroup.com · letsmoney.com.br · mobile.valor.com.br · neweconomy.jp · news.m.pchome.com.tw · newsable.asianetnews.com · phocapblockchain.net · pymnts.com · seudinheiro.com · tokenpost.kr · tronweekly.com · uktech.news · valor.globo.com · world-today-news.com

This summary has been updated 9 times: see revision history