Ant International, HSBC and Swift say they have tested a new cross-border payment solution.By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions .Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.The initiative involved the cross-border transfer of tokenized deposits usi ...

Ant International, HSBC and Swift have successfully tested cross-border transfers of tokenised deposits using an international financial messaging standard, in a move that could streamline global blockchain-based payments and corporate treasury management. The milestone, announced on Thursday, marked the first case leveraging the Swift network and ISO 20022 as a messaging standard in cross-border payments using tokenised deposits. The standard is a universal language for exchanging electronic data in fi ...

Core Insights - Ant International, HSBC, and Swift have successfully completed a Proof of Concept (POC) for cross-border transfer of tokenised deposits using ISO 20022 standards [1] - The initiative utilizes Swift's global messaging network, HSBC's Tokenised Deposit Service, and Ant International's blockchain technology [1] - This POC represents a significant milestone in the collaboration between these companies to enhance the benefits of tokenisation for businesses [1] Company Summaries - Ant International is leveraging its blockchain technology in collaboration with HSBC and Swift to facilitate cross-border transactions [1] - HSBC has launched a Tokenised Deposit Service that plays a crucial role in this POC, indicating its commitment to innovation in financial services [1] - Swift's global messaging network is integral to the success of this initiative, showcasing its importance in the evolving landscape of financial transactions [1]

Core Insights - ISO 20022 has become the universal standard for financial messaging, replacing SWIFT's legacy format on November 22 [1][5] - The integration of stablecoins and tokenized deposits is a significant advantage of the new standard, allowing for a broader range of digital asset transactions [1][5] - Not all stablecoins are equally integrated into ISO 20022 systems, highlighting the need for standardized identifiers for effective use [5][6] Summary by Sections How ISO 20022 Treats Stablecoins - ISO 20022 is asset-agnostic, allowing for the description of various settlement assets, including traditional fiat transfers, tokenized swaps, and stablecoin payments [2] - The standard does not endorse or prohibit any specific stablecoin, functioning instead as a messaging language for banks and market infrastructures [2] Identifier Codes for Crypto - The traditional ISIN system is being supplemented by ISO 24165, which provides unique alphanumeric codes for blockchain-based digital assets [3] - Most mainstream stablecoins now possess Digital Token Identifiers (DTI) for each instance across different networks, facilitating their identification [3] Compliance and Integration - The notion that some blockchains are compatible with ISO 20022 while others are not is misleading; the focus should be on whether a stablecoin can be clearly identified within ISO 20022 flows [6] - For deep integration into traditional finance, stablecoins require universally accepted DTI registrations that are mapped to an official ISIN [6]

We have been following all of the big policy updates around crypto for the last 12 plus months. One of the biggest things that we have been waiting for is the Clarity Act, right. The Clarity Act is definitely a big one that we have been focused on.Um, and on top of that, the Genius Act got fully passed through. everyone's now talking about ISO 2082, which you know, this is what this video is going to mainly be about. We're gonna focus on that standard and what's actually going on.Um, but also, if we just go ...

ISO 20022 Standard & Timeline - ISO 20022 is a standard for financial messaging that aims to modernize and improve data transmission between financial institutions [1][2] - The shift to ISO 20022 began in November 2022, with a coexistence period ending on November 22nd, marking a significant upgrade in payment infrastructure [6][7][9] - By September, 60%+ of daily payment instruction messages were already using ISO 20022, indicating substantial adoption [10] - The complete migration for all SWIFT-enabled banks is expected by November 2025 [24] Ripple & XRP's Role - Ripple is compliant with ISO 20022 standards, positioning it favorably for integration into global financial networks [2][15][38] - ISO 20022 makes it easier to implement Ripple payments because banks are upgrading their systems to handle ISO 20022 for cross-border payments [18] - Ripple's acquisitions, such as Hidden Road (connecting to 300 institutional players) and G Treasury (connected to 13,000 banks), enhance its potential integration with SWIFT and the broader financial ecosystem [31][32][34] Impact on Financial Institutions & Crypto - ISO 20022 mandates that financial institutions upgrade their systems to accommodate new technologies, including crypto, which can open institutional floodgates [13][14][37] - The standard simplifies connections between networks, enhances interoperability, and automates processes, benefiting tokens positioned as banking infrastructure [5] - Smaller banks can benefit from ISO 20022 adoption by cutting out larger correspondent banks from their flow and cost [23] - The adoption of ISO 20022 facilitates the integration of crypto projects into global financial networks, particularly for cross-border payments and remittances [14]

📊 MARKET WATCH: Pi Network joins the ISO 20022 race alongside Ripple and Stellar.Will its massive community be enough to compete with established blockchain payment leaders? https://t.co/SuEHT1Jgbv ...

Over the last few months, we have been talking about how adoption around crypto is just getting started. It's heating up. I feel as if 2025 is the year where crypto started to get taken serious.It's been put on center stage. Um the biggest players out there, the biggest politicians, the biggest companies, asset management companies, Wall Street players, they're all talking about crypto. I mean, at this point, I really don't even think that, you know, crypto is that niche market anymore. I don't think it is, ...

Over the last couple years, we have talked about how the future of crypto will not be dead set by just one network. That we are headed into a multi-chain future. And this has actually allowed us to come to the realization that some of these projects can work together. This is also why I said for years the argument of which one of these projects are better than the other, it's just nonsense. It's it's a low IQ discussion. So when we think about that, right, I've always said that XRP and H bar, these two can ...

Over the last couple weeks, we have been talking about how stable coins are becoming more interconnected with our financial system than ever before. Today, this is a clear move from the Federal Reserve because, you know, the Federal Reserve is now at that point where they know and they understand that stable coins are not going to get smaller from this point on. In fact, they are only going to grow more and more and more.So now the Federal Reserve is preparing to adopt and utilize stable coins in a big way. ...