Standard Chartered Partners Ant on Tokenized Deposits in Hong Kong Launches

TLDR

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Standard Chartered and Ant launched tokenized deposits on Ant’s Whale platform in Hong Kong.
The system enables 24/7 real-time transfers in HKD, CNH, and USD for corporate treasury use.
Tokenized deposits are fully backed by bank-held funds and differ from stablecoins.
The project operates under the HKMA’s Project Ensemble regulatory framework.

The solution supports real-time treasury transfers using blockchain infrastructure. It operates around the clock and removes traditional banking cut-off times. The system is already active, with Ant International as the first user. The launch reflects growing efforts by banks to modernize payments while staying within existing regulatory frameworks.

Standard Chartered and Ant Launch Tokenized Deposits in Hong Kong

Standard Chartered partnered with Ant International to introduce tokenized deposits in Hong Kong. The system runs on Ant International’s Whale platform. It allows near real-time transfers in Hong Kong dollars, offshore Chinese yuan, and U.S. dollars.

The bank stated that the system is designed for corporate treasury use. It supports continuous fund movement without relying on traditional banking hours. Ant International is the first corporate client using the solution for internal liquidity management.

Tokenized deposits represent actual bank deposits in digital form. They remain fully backed by funds held at Standard Chartered. This structure separates them from stablecoins, which often rely on reserves held outside banks.

The solution aims to improve treasury efficiency. It also supports better cash visibility across corporate entities. Standard Chartered described the system as part of its broader digital asset strategy.

How the Blockchain-Based Deposit System Operates

Standard Chartered issues the tokenized deposits directly. Ant International then uses these tokens within its Whale platform. Transfers occur almost instantly, including during weekends and holidays.

This setup allows treasury teams to manage balances in real time. Funds can move across different entities without waiting for manual processing. This changes how companies handle daily liquidity needs.

However, some limits remain in place. Interbank settlement still depends on Hong Kong’s RTGS system. As a result, transfers between different banks are not fully instant yet.

Despite this, the system reduces delays within the same banking group. It also cuts reliance on batch processing. Standard Chartered said this improves operational efficiency for large corporates.

Project Ensemble Supports Regulated Tokenization

The launch takes place under the Hong Kong Monetary Authority’s Project Ensemble. The initiative explores how distributed ledger technology can work in regulated finance. Standard Chartered and Ant International are members of the EnsembleTX group.

Standard Chartered has participated in technical design work since mid-2024. It contributed through the project’s architecture community. The goal is to build shared standards for tokenized money.

Other banks are also involved in Project Ensemble. These include HSBC, Bank of China Hong Kong, and Hang Seng Bank. Later participants include JPMorgan and R3.

The HKMA plans to test settlement using tokenized central bank money. This could support faster interbank transfers in the future. Testing will continue as part of the broader project timeline.

Use Cases for Corporates and Platform Developers

The system mainly supports internal treasury operations at this stage. Large firms can move funds faster and reduce idle balances. This helps improve cash flow management.

The always-on structure also improves visibility. Treasury teams can track balances without delays. This reduces reliance on end-of-day reports.

Software providers are also monitoring the development. Treasury and ERP platforms can begin building compatible tools. These tools may allow firms to manage tokenized deposits across banks.

The pilot phase will run through 2026. Regulators will observe how value moves on-chain during this period. The project focuses on infrastructure rather than consumer-facing services.

Standard Chartered and Ant International continue to work within existing rules. The initiative reflects Hong Kong’s approach to testing regulated blockchain systems. The partnership places the city at the center of bank-led tokenization efforts.