Standard Chartered Bank launches blockchain-based tokenized deposit solution

PANews reported on December 18th, citing Techinasia, that Standard Chartered Bank has launched a blockchain-based tokenized deposit solution for Ant International, supporting real-time transfers of Hong Kong dollars, offshore yuan, and US dollars. The bank partnered with global fintech company Ant International, deploying the technology on Ant's Whale Exploration platform. This launch is part of the Hong Kong Monetary Authority's "Project Ensemble," which aims to promote the application of distributed ledger technology in the region.

Ant International is the first customer to adopt this new solution, which enables 24/7 fund management and liquidity transfer. Both Standard Chartered Bank and Ant International are members of the EnsembleTX Group, which supports the promotion and application of tokenization technology in Hong Kong. Since May 2024, Standard Chartered Bank has been a member of the Digital Hong Kong Dollar project architecture community, assisting in the development of industry standards and testing of tokenization application scenarios.