SWIFT launches blockchain pilot with Ripple-linked banks including HSBC and Standard Chartered

The Society for Worldwide Interbank Financial Telecommunication (SWIFT), a leading global provider of secure financial messaging services, has launched a pilot blockchain platform this November, collaborating with 12 major banks across Europe and beyond. Several institutions participating in the pilot, including HSBC and Standard Chartered, have existing ties to Ripple ’s blockchain ecosystem, drawing attention from the XRP community. HSBC, one of the world’s largest banking and financial services organizations, is among the first to integrate its Tokenised Deposit Service (TDS) with SWIFT’s blockchain ledger. The bank utilizes the Harmonize platform, developed by Metaco, to provide digital asset custody solutions for institutional clients. Since acquiring Metaco in 2023, Ripple has strengthened connections between its blockchain infrastructure and major financial institutions, including HSBC.

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