ANZ, BHP, Citi and Swift Complete Corporate Treasury Payment Using Tokenized Deposits
Corporate treasury payment is moving toward 24/7 cross-border payments as ANZ, BHP, Citi and Swift complete live transaction using tokenized bank deposits and Swift Ledger
ANZ today announced the successful completion of one of the world’s first live corporate treasury transactions using tokenized deposits and Swift’s ledger, demonstrating how commercial bank money could support always-on cross-border payments.
This takes tokenized deposits interoperability beyond interbank settlement and into corporate treasury and transaction banking.
➡️ For corporates, the proposition is increasingly clear:
1️⃣ 24/7 payment capability
2️⃣ Cross-border settlement
3️⃣ Commercial bank money
4️⃣ Existing banking relationships
5️⃣ Connectivity across multiple institutions
➡️ For banks, Swift’s emerging hub-of-hubs model could solve one of the biggest barriers to scaling tokenized deposits: interoperability.
Banks can continue to own the deposit, issuance and client relationship, while Swift provides the orchestration and connectivity layer linking otherwise separate tokenized-deposit systems.
As I noted in the latest Strategic Edge, this hub of hubs interoperability model will dramatically increase the adoption of tokenized deposit across financial institutions and corporates - precisely because banks do not need to replace their existing relationships, balance-sheet structures or core payment infrastructure.
➡️ Key signal: Tokenized deposits, once a predominantly an siloed product that were too expensive to build for all but the largest global banks, are becoming industrialized and moving into the core corporate payments stack.
The question is increasingly shifting from whether banks can issue tokenized deposits to who can leverage it to deepen client relationships and build better products on top.
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