HSBC Launches HKD & USD Tokenised Deposit Service in Hong Kong to Support Corporate Clients Treasury Management with Real-Time HKD & USD Payments in Partnership with Ant International Blockchain-Based Settlement Service
23rd May 2025 | Hong Kong
HSBC has launched the HKD & USD Tokenised Deposit Service in Hong Kong to support corporate clients treasury management with real-time HKD & USD payments in partnership with Ant International blockchain-based settlement service. Announcement (22/5/25): “Ant International today announced its collaboration with HSBC on the bank’s new Tokenised Deposit Service in Hong Kong. The service will support treasury management with real-time, always-on HKD and USD payments between corporate wallets held by a corporate client at HSBC Hong Kong. The Tokenised Deposit Service is also the first bank-led, blockchain-based settlement service in Hong Kong. The launch comes after a successful pilot test between HSBC and Ant International on Ant’s Whale platform, which has been rolling out blockchain-based payments and tokenised deposits solutions with various bank partners. Following the pilot test, HSBC adapted the learnings from the joint innovation into its Tokenised Deposit Service, with Ant International as the pioneer client. As the first client to utilise the Tokenised Deposit Service, Ant International has successfully completed an instant intra-group fund transfer via the service. It initiated the transaction via its internal global treasury management platform, the Whale platform, digitising its USD deposits with HSBC into digital tokens on the bank’s secure distributed ledger. One of the core products developed by the Platform Tech team under Ant International’s Embedded Finance business, the Whale platform is a next-generation treasury management solution that utilises blockchain technology, including advanced encryption and AI, to improve the efficiency and transparency of funds transfer between Ant International’s intragroup entities for real-time global treasury management. In 2024, more than a third of Ant International’s transactions were processed on-chain via the Whale platform. The Whale platform currently supports multiple tokenised assets from leading banks and institutions around the world, enabling interoperability across diverse blockchain networks. By leveraging leading DLT technologies such as homomorphic encryption and zero-knowledge proofs, the Whale platform encrypts transaction information and enables multi-party verification in an encrypted state, ensuring secure, confidential, and seamless cross-chain transactions. Ant International’s collaboration with HSBC on tokenised deposits expands a longstanding partnership since 2020. In October 2024, Ant International and HSBC also completed a successful HKD-denominated cross-bank experiment under the Hong Kong Monetary Authority’s Ensemble Sandbox.”
“ HSBC Launches HKD & USD Tokenised Deposit Service in Hong Kong to Support Corporate Clients Treasury Management with Real-Time HKD & USD Payments in Partnership with Ant International Blockchain-Based Settlement Service “
Ant International – With headquarters in Singapore and main operations across Asia, Europe, the Middle East and Latin America, Ant International is a leading global digital payment, digitisation and financial technology provider. Through collaboration across the private and public sectors, our unified techfin platform supports financial institutions and merchants of all sizes to achieve inclusive growth through a comprehensive range of cutting-edge digital payment and financial services solutions.
HSBC Launches HKD & USD Tokenised Deposit Service in Hong Kong to Support Corporate Clients Treasury Management with Real-Time HKD & USD Payments in Partnership with Ant International Blockchain-Based Settlement Service
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