For multinationals, that means potentially shifting large balances between countries and paying suppliers in real time instead of waiting days. Weekends and public holidays stop being roadblocks.
Tokenised deposits work like a digital version of traditional bank balances but they sit on a blockchain network connected through Swift’s infrastructure. ANZ and the other participating banks will be able to move funds instantly between corporate accounts used for internal treasury flows or supplier payments instead of relying on slower correspondent banking channels.
Swift’s system updates the ledger in real time, which removes the usual clearing lags that global companies face when sending money overseas. The new deposits are still bank liabilities so they remain on balance sheet like regular corporate deposits.
Swift is leaning on blockchain technology to synchronise transfers so funds arrive and can be used immediately, including on weekends when conventional clearing systems often pause. The design targets a long-standing frustration for large corporates that need predictable liquidity across markets but now tolerate delays and cut-off times.
Australia’s largest banks, including ANZ, are also exploring a related but distinct category of private digital money known as stablecoins, which also move over blockchain rails. Stablecoins differ because they are backed by reserves held by the issuing entity, not by a direct claim on a bank deposit.
That structural contrast shapes how regulators may treat each instrument and how companies might use them.
