Summary
Bank-issued tokenised deposits are moving into corporate treasury use: OCBC and Ant International have launched a Singapore–Malaysia service, while Ant has completed UAE pilot transactions using HSBC’s service. OCBC, Ant International Launch Tokenised Deposits for Treasury Ant International Pilots Tokenised Deposits With HSBC in the UAE Infrastructure connectivity should nevertheless be distinguished from settlement transformation: IBM’s reported connection of 17 banks to a Swift-linked ledger still leaves final settlement on existing systems. IBM links 17 banks to the SWIFT ledger, but the cloud risk persists
Key developments
Cross-border treasury launch: OCBC’s service enables Ant International to transfer Singapore-dollar and US-dollar liquidity between Singapore and Malaysia beyond standard banking hours. The reported use case is corporate liquidity movement, rather than securities settlement. OCBC, Ant International Launch Tokenised Deposits for Treasury
UAE pilot completed: Ant International used HSBC’s Tokenised Deposit Service for pilot transactions. The service represents bank deposits as blockchain-based tokens supporting real-time fund transfers; the supplied report establishes a pilot, not a broader production rollout. Ant International Pilots Tokenised Deposits With HSBC in the UAE
Messaging and settlement remain distinct: IBM connected 17 banks through Digital Asset Haven’s ISO 20022 adapter, which supports tokenised-deposit instructions. Final settlement remains on existing systems, and cloud-related risks persist. IBM links 17 banks to the SWIFT ledger, but the cloud risk persists
UK customer activity is reported live: UK Finance says banks completed their first live customer transactions using tokenised sterling deposits. The supplied information does not identify participating banks or transaction scale. UK banks complete first live customer transactions using tokenised sterling deposits
Canada remains exploratory: Canada’s six largest banks are exploring tokenised Canadian-dollar deposits for interbank payments, following regulatory clarification issued weeks earlier. Exploration should not be read as a confirmed service launch. Canada’s six largest banks explore tokenized Canadian dollar deposits
Internal infrastructure is a prerequisite: Taurus co-founder Lamine Brahimi said banks need permissioned ledgers, wallet infrastructure and smart-contract support before connecting to Swift’s tokenised-deposit network. Swift blockchain ledger requires key internal layers, Taurus co-founder warns
Who is moving
Anchorage Digital acquired Routable to expand corporate payment capabilities. Integrated stablecoin and tokenised-deposit services are planned over coming quarters, distinguishing the completed acquisition from the prospective service rollout. Anchorage Digital Buys Routable to Add Corporate Payment Rails
VersaBank filed a 6-K on October 1, 2026 mentioning “tokenized deposits.” That filing reference adds issuer-level disclosure evidence, but the supplied information does not establish deployment scope, transaction volumes or counterparties. VersaBank
What to watch
What evidence will demonstrate a change in final settlement arrangements, rather than connectivity and instruction processing alone? IBM links 17 banks to the SWIFT ledger
Which participating banks, implementation milestones and operating arrangements will emerge from Canada’s exploratory initiative? Canada’s six largest banks explore tokenized Canadian dollar deposits
How will banks sequence permissioned ledgers, wallets and smart-contract capabilities before connecting to shared infrastructure? Swift blockchain ledger requires key internal layers
Sources
UK Finance customer transactions
Taurus infrastructure requirements
Anchorage–Routable acquisition
Information only — not investment advice. All reports