SWIFT says its blockchain-based shared ledger is ready for initial use, with 17 banks set to pilot tokenized deposits and 24/7 cross-border payments. It’s a real step toward faster bank money — but not the same as a fully verified “first live transaction” triumph.
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Swift has moved tokenized deposits from theory to a live test, linking HSBC and Standard Chartered through its blockchain-based ledger while final settlement stayed in the traditional banking system. It’s a small but meaningful step toward interoperable bank money, not full onchain settlement.
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MUFG is testing whether Japanese government bond repo trades can settle on blockchain rails without replacing Japan’s existing securities system. The proof-of-concept explores tokenized deposits or stablecoins for cash, with delivery-versus-payment and no commercial launch date yet.
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Wall Street’s tokenization push is no longer a sideshow: big banks, BlackRock, and the DTCC are building real settlement rails, while stablecoins fight to keep their role in open crypto. The real battle now is control — who owns the money, the flow, and the plumbing.
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Big US banks are reportedly weighing a shared permissioned blockchain for tokenized deposits, aiming to speed up dollar settlement and cut reconciliation pain. The idea is promising, but it’s still exploratory — and governance, regulation, and bank politics may be the real bottlenecks.
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Swift is moving its blockchain-based ledger into live pilot mode for 24/7 cross-border payments using tokenized deposits, aiming to speed up settlement and improve liquidity without replacing its existing network. It’s a pragmatic upgrade for TradFi’s plumbing, not a crypto moonshot.
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SWIFT is testing a blockchain-based ledger for tokenized bank deposits with 17 global banks, aiming at faster 24/7 cross-border payments without ditching existing settlement rails. It’s a cautious but meaningful signal that traditional finance is taking tokenization seriously.
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Banks and stablecoin issuers are fighting over the same prize: control of digital money rails. Stablecoins can siphon deposits out of the banking system, while deposit tokens let banks keep the liability and modernize payments without handing the wheel to crypto-native competitors.
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Sygnum says the walls between stablecoins, bank deposits and money market funds are starting to crack, and that could lead to a more unified multi-cash rail system for moving money onchain and offchain. In plain English: the same dollar is increasingly being packaged in different digital formats. Stablecoins, deposits and tokenized funds are converging Blockchain […]
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Stablecoins are no longer a sleepy crypto utility. They’re now in the middle of a bigger fight over payments, banking power, and who gets to control the plumbing of digital money. Waller backs stablecoins as real payment tools. Greene favors tokenized deposits and expects them to gain ground. The CLARITY Act could shape U.S. digital […]
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