Standard Chartered Bank and Ant International have launched a new blockchain tokenized deposit solution in Hong Kong

Standard Chartered Bank (Hong Kong) and Ant International jointly launched a blockchain-based tokenized deposit solution that supports real-time fund transfers around the clock. This solution was co-developed by both parties to enable seamless fund flows in Hong Kong dollars, offshore renminbi, and US dollars, significantly enhancing the fund management efficiency for global enterprises. The initiative was developed in collaboration with the Hong Kong Monetary Authority's "Project Ensemble" and the Distributed Ledger Technology Regulatory Incubator.

By tokenizing Ant International's accounts on its proprietary blockchain-based fund management system "Whale," it ensures near real-time fund flows between various global entities under the client.

Li Kaiwen, General Manager of Technology at Ant International, stated that this collaboration combines Standard Chartered Bank's deep banking expertise with Ant International's strengths in global payments and tokenization. "The new solution enhances liquidity management capabilities by providing seamless and secure working capital channels for global businesses."