[REVISION HISTORY]

Tokenised cross-border payment pilot developments

Updated 15 times since CLSTR started tracking revisions of this situation.

What changed

2026-09-29 23:27 UTC → 2026-10-02 06:58 UTC · added ~~removed~~

Financial institutions and international organizations continue to pilot tokenised cross-border payments and interbank interoperability. Following Project Agorá in July 2026 and subsequent live transactions by HSBC, Standard Chartered, and Citi, the focus has shifted toward integrating blockchain ledgers with existing banking infrastructure. IBM has announced major upgrades to its digital banking infrastructure to assist financial institutions, governments, and regulated entities in managing digital assets with enterprise-grade security. Through its IBM Digital Asset Haven platform, IBM now supports beta access to Swift’s blockchain-based shared ledger. This integration features an ISO-20022 Messaging Adapter, allowing institutions to execute tokenised deposit transactions using standard messaging formats rather than entirely new blockchain workflows, facilitating 24/7 asset movement while maintaining existing compliance processes. To support Tier 1 banks and those requiring high performance and hardware-level security, IBM is launching a beta version of IBM Digital Asset Haven for on-premises deployment. Utilizing IBM Z and LinuxONE infrastructure, this option allows organizations to manage stablecoins and tokenised deposits within their own data centers, removing reliance on public cloud environments and using IBM Crypto Express HSM to protect cryptographic keys. Swift’s ledger, built on a Consensys prototype compatible with the Ethereum Virtual Machine, is currently being piloted by 17 major financial institutions, including BNP Paribas, Citi, HSBC, Standard Chartered, UBS, and Wells Fargo. Further infrastructure expansions are underway to link traditional banking systems with the Swift ledger. Oracle has enhanced its ‘Digital Assets Data Nexus’ to allow banks to synchronize transaction statuses for tokenised deposits, stablecoins, and central bank digital currencies (CBDCs) with the Swift ledger, while maintaining final settlement through existing real-time gross settlement (RTGS) systems. Concurrently, Chainlink is developing an integration solution using the ‘Chainlink Runtime Environment’ to connect legacy systems and key-signing infrastructure directly to the Swift network.

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