Hong Kong Economic Times: Standard Chartered Hong Kong launches tokenized deposit service

According to TechFlow, on December 18, as reported by the Hong Kong Economic Times, Standard Chartered Bank (Hong Kong) and Ant International, under the Distributed Ledger Technology Regulatory Incubator and Ensemble Project framework of the Hong Kong Monetary Authority, have tokenized Ant International's HKD, RMB, and USD accounts through Ant International's blockchain treasury management platform "Whale Platform".

According to the report, this tokenization solution was jointly developed by both parties, allowing Ant International business entities to adopt a new treasury management model, accelerating the transition to a new treasury management approach and enabling 24/7 real-time allocation of HKD, RMB, and USD funds. Previously, Standard Chartered Hong Kong and Ant International had completed a blockchain settlement test denominated in HKD.

Mahesh Kini, Global Head of Cash Management at Standard Chartered, stated that as enterprises increasingly rely on instant liquidity, the market demand for real-time and 24/7 treasury management is growing rapidly.