Standard Chartered and Ant International collaborate to launch commercial blockchain tokenized deposit services

BlockBeats News, December 29 — Standard Chartered Bank (Hong Kong) and Ant International jointly launched a blockchain-based tokenized deposit solution that supports 24/7 real-time fund transfers. The solution, developed collaboratively by both parties, enables seamless movement of HKD, offshore RMB, and USD, significantly enhancing global corporate cash management efficiency. The initiative was developed in partnership 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 cash management platform, Whale, the system ensures near real-time fund flows between various global entities under the client’s umbrella. Kevin Li, Chief Technology Officer of Ant International, stated that this collaboration combines Standard Chartered’s extensive banking expertise with Ant International’s proficiency in global payments and tokenization. “The new solution provides a seamless and secure working capital channel for global businesses, enhancing liquidity management capabilities.”