Standard Chartered and Ant International launch commercial blockchain-based tokenized deposit solution in Hong Kong and Singapore

According to Odaily, Standard Chartered Bank and Ant International have announced the official commercial launch of a blockchain-based tokenized deposit solution in Hong Kong and Singapore, enabling 24/7 real-time fund transfers. This solution supports instant settlement in Hong Kong dollars, offshore RMB, and US dollars, aiming to enhance the efficiency of global cash and liquidity management for cross-regional enterprises.

According to the introduction, this solution was developed under the Project Ensemble led by the Hong Kong Monetary Authority and the distributed ledger technology regulatory sandbox framework. By tokenizing accounts on Ant International's proprietary Whale blockchain cash management platform, it enables near real-time liquidity allocation between entities in different regions for enterprises.

Standard Chartered Bank stated that this solution breaks the limitations of traditional banking business hours and settlement cycles, meeting enterprises' needs for "instant liquidity." Ant International said that this collaboration deeply integrates its capabilities in global payments and tokenization technology with Standard Chartered's banking system, further optimizing cross-border operational cash management. This launch is regarded as an important milestone in Project Ensemble's promotion of tokenized asset applications and is also expected to encourage more enterprises to explore practical applications of tokenized deposits within the region. (thefintechtimes)