Standard Chartered Bank launches blockchain-based tokenized deposit solution
according to market sources, Standard Chartered Bank has launched a blockchain-based tokenized deposit solution for Ant International, supporting real-time transfers in Hong Kong dollars, offshore RMB, and US dollars.
The bank has partnered with the global fintech company Ant International to deploy this technology on Ant’s Whale Explorer platform. This launch is part of the Hong Kong Monetary Authority's "Digital Hong Kong Dollar" project (Project Ensemble), aimed at promoting the application of distributed ledger technology in the region. Ant International is the first client to adopt this new solution, which enables round-the-clock 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 joined the "Digital Hong Kong Dollar" project framework community to assist in setting industry standards and testing tokenization application scenarios.
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