Standard Chartered unveils tokenised deposit services in Hong Kong

Companies that have made live tokenised deposit transactions include China AMC, Finloop, and PantherTrade.

Standard Chartered has rolled out tokenised deposit services in Hong Kong.

The solution leverages the Hong Kong Monetary Authority’s (HKMA) ensemble infrastructure to enable corporate treasurers, banks, investment platforms, and digital asset businesses to enhance their treasury, liquidity, and operation activities.

Standard Chartered plans to expand the solution to more markets over time, it said in a 2 November announcement.

Tokenised deposits can be transferred in real-time across participating banks, according to Standard Chartered.

The solution offers inter-bank settlement of tokenised deposit transactions in central bank money—including wholesale central digital bank currency—on a 24/7 basis.

Eligible clients can utilise their commercial bank deposits within digital treasury and investment workflows, including intragroup liquidity management.

Companies that have made live tokenised deposit transactions include China AMC, Finloop, and PantherTrade, according to Standard Chartered.

Standard Chartered said that it is partnering with Fireblocks, a digital asset and blockchain infrastructure company, to embed banking capabilities in the Fireblocks platform, as well as provide native access to the digital asset client ecosystem.

Hashkey, a digital asset company listed in Hong Kong, is also part of the ecosystem and will help Standard Chartered further expand the reach of the solution.

Together with Fireblocks and Hashkey, Standard Chartered is exploring how tokenised deposits can enhance institutional treasury management and improve connectivity across investment and capital markets activities, the bank said.