Standard Chartered and Ant Group's International Collaboration Launches Commercial Blockchain Tokenization Deposit Service

BlockBeats News, December 29th. Standard Chartered Bank Limited (Hong Kong) has jointly launched a blockchain-based tokenized deposit solution with Ant Bank International, supporting real-time fund transfers 24/7. The solution, co-developed by both parties, enables seamless fund movement in Hong Kong dollars, offshore renminbi, and US dollars, significantly enhancing global corporate fund management efficiency. The initiative was developed jointly by the Hong Kong Monetary Authority's Project Ensemble and the Distributed Ledger Technology Regulatory Sandbox. By tokenizing Ant Bank International's accounts on its proprietary blockchain-based fund management system Whale platform, customer-owned global entities ensure nearly real-time fund flows between each other.

Kevin Li, CTO of Ant Bank International, stated that this collaboration combines Standard Chartered Bank's strong banking expertise with Ant Bank International's specialization in global payments and tokenization. "The new solution enhances liquidity management capabilities by providing a seamless, secure operational fund channel for global businesses."