Ant International becomes the first corporate client in Hong Kong to use HSBC's tokenized deposit service

2025-05-24 08:37:27

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ChainCatcher news, according to Business News Asia, Ant International has become the first corporate client to use HSBC's newly launched tokenized deposit service in Hong Kong, marking an important milestone for the city in integrating blockchain technology into traditional finance.

The service enables real-time payments in Hong Kong dollars and US dollars between corporate accounts around the clock through tokenized deposits on a blockchain ledger, significantly improving cross-border fund management operations. This service was launched after a successful pilot on Ant's proprietary Whale platform and is the first blockchain-based settlement service in Hong Kong led by a commercial bank.

Ant International completed its first internal fund transfer by converting US dollar deposits into digital tokens on HSBC's distributed ledger system. The Whale platform, developed by Ant International's platform technology team, integrates blockchain, artificial intelligence, and advanced encryption technology, with over one-third of Ant International's fund transfers executed on-chain through this platform in 2024.

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