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Swift announced that its blockchain ledger is ready, and 17 global banks will pilot cross-border payments through tokenized deposits. Participating institutions include ANZ Bank, BNP Paribas, Bank of New York Mellon, Citigroup, DBS Bank, HSBC, Standard Chartered Bank, UBS, and Wells Fargo. This ledger provides a tokenized deposit orchestration layer that supports real-time or non working time transfer of funds before the final settlement is completed in the existing settlement system.