According to CoinMeta, and as reported by the Nihon Keizai Shimbun, SWIFT has developed a blockchain-based "SWIFT Digital Ledger" and has collaborated with 17 global banks including Citibank, Mitsubishi UFJ, Wells Fargo, Bank of New York Mellon, UBS, BNP Paribas, etc., to test cross-border payments using tokenized deposits. The goal is to achieve 24/7 instant transfers between different banks and to reduce the costs of cross-border payments. In August, HSBC and Standard Chartered completed actual transactions through this platform. In September, Citibank conducted transfer tests with Abu Dhabi First Bank, OCBC, and DBS. This platform can connect tokenized deposits from different banks, but the final settlement between banks still uses the existing banking systems.