Standard Chartered and Ant International launch commercial blockchain tokenized deposit scheme in Hong Kong and Singapore

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

According to reports, the solution was developed under the Project Ensemble and distributed ledger technology regulatory sandbox framework led by the Hong Kong Monetary Authority. It enables near real-time liquidity transfers between different regional entities of the company by tokenizing Ant International's accounts on its own Whale blockchain fund management platform.

Standard Chartered Bank stated that the solution breaks through the limitations of traditional bank operating hours and clearing cycles, meeting enterprises' needs for "instant liquidity." Ant International stated that the collaboration deeply integrates its global payment and tokenization technology capabilities with Standard Chartered's banking system, further optimizing cross-border working capital management. This launch is considered a significant milestone in Project Ensemble's efforts to promote the application of tokenized assets and is expected to encourage more enterprises to explore the practical application of tokenized deposits within the region. (thefintechtimes)