HSBC and Standard Chartered have executed the first real cross-border transaction on Swift’s new blockchain, an operation the banks presented as the first fully live, completed cross-border payment conducted on the platform and described by the institutions as a major first. Swift launched the blockchain in July, according to the report. The banks framed the operation as a major first for the new technology.
HSBC and Standard Chartered executed a cross-border payment on Swift’s new blockchain, with both banks formalizing the operation as a major first for the platform and identifying their roles as the executing institutions in the transaction.
Swift launched the blockchain in July, and the banks characterized this specific operation as a major first on that platform, presenting the payment as an initial practical cross-border transfer carried out on the system.
The institutions described the operation as “the first real cross-border transaction,” using that quoted phrasing to define the nature of the payment executed via Swift’s blockchain.
In the reporting, HSBC and Standard Chartered are named as the parties that executed and officially recognized this initial cross-border payment on Swift’s blockchain.
HSBC and Standard Chartered executed a cross-border payment on Swift’s new blockchain and formally recognized the operation as a major first for the platform, publicly naming themselves as the executing institutions. Swift launched the blockchain in July, and the transaction has been identified in reporting as the platform’s initial real cross-border transfer, with both banks cited as the executing parties.
