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

Standard Chartered Bank and Ant International 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 cash and liquidity management for cross-regional enterprises. Developed under the Project Ensemble and distributed ledger technology regulatory sandbox framework led by the Hong Kong Monetary Authority, the solution tokenizes Ant International's accounts on its proprietary Whale blockchain cash management platform, enabling near real-time liquidity transfers between different regional entities within a company. Standard Chartered stated that the solution breaks through the limitations of traditional bank operating hours and settlement cycles, meeting enterprises' needs for "instant liquidity." Ant International stated that this 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 promotion of tokenized asset applications and is expected to encourage more enterprises to explore the practical application of tokenized deposits within the region. (thefintechtimes)