Ant Group and HSBC Pioneer Cross-Border Tokenized Transfers

Key Points:

• Ant International and HSBC conduct successful cross-border token payment test.
• Leveraged Swift’s network and ISO 20022 for interoperability.
• Potential to revolutionize real-time global fund management.

Ant International, HSBC, and Swift have successfully tested cross-border transfers using tokenized deposits, marking a landmark integration of blockchain within the Swift network and ISO 20022 standard.

This collaboration enables real-time, cross-border fund management, showcasing blockchain’s potential for global finance while maintaining regulatory compliance through tokenized bank solutions.

Ant International and HSBC Break New Ground with Tokenized Transfers

Ant International, HSBC, and Swift executed a significant test on cross-border transfers using tokenized deposits. Ant International linked its blockchain infrastructure to Swift through HSBC’s service, successfully integrating digital tokens for real-time fund management. This test allows banks to transact without separate bilateral arrangements, showcasing the power of interoperability via ISO 20022 standards on Swift’s network.

An important change in financial transactions, this test facilitates real-time global treasury management without existing bilateral banking arrangements. Utilizing HSBC’s tokenized deposit service, the initiative introduces seamless compatibility between distinct banking entities, marking a promising step forward in cross-border transactions.

Kelvin Li, General Manager of Platform Tech, Ant International, “Our relationship has enabled us to work across different geographies and cover a wide range of global payment businesses. The Tokenised Deposit Service is one of the main means to enable us to do real-time payments globally and also enable us to achieve real-time treasury management on a global basis.”

There has been industry interest, with financial experts acknowledging the efficiency boost in cross-border payments the innovation offers. Commercial deployment plans are expected to proceed following these developments.

Industry Experts Highlight Potential of Cross-Border Tokenization

Did you know? Ant International’s pioneering cross-border tokenized deposit initiative could change global fund transfers just like ISO 20022 has standardized messaging across international banks.

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Bitcoin(BTC), daily chart, screenshot on CoinMarketCap at 02:05 UTC on December 12, 2025. Source: CoinMarketCapThe Coincu research team sees potential for significant enhancement in global fund management due to this pioneering test, offering early signs of seamless cross-border digital transactions. Plans for broader commercial deployment may influence future regulatory landscapes and spur further industry interest.