HSBC announced the live launch of its Tokenised Deposit Service for corporate clients in Hong Kong, introducing the first bank-led, blockchain-based settlement service in the city.
In the initial phase, the Tokenised Deposit Service will support treasury management with real-time, always-on HKD and USD payments between corporate wallets held by a client at HSBC Hong Kong. Built on HSBC’s own network and technologies, the new infrastructure establishes a robust foundation for enhancing the Bank’s digital money capabilities. It also supports settlement requirements for tokenisation use cases, including those being explored under Hong Kong Monetary Authority (HKMA)’s Project Ensemble1.
Ant International has become the first client to adopt the service. HSBC has supported Ant International to successfully complete an instant fund transfer between its entities through tokenisation of their deposits. The transaction, initiated by Ant International through its internal global treasury management platform (Whale platform2), brings improved transparency, flexibility and efficiency to its liquidity management.
Building on HSBC’s active involvement in Project Ensemble, the Tokenised Deposit Service is designed to integrate with and support HKMA’s tokenisation and digital money infrastructure development. The strategic alignment paves the way for broader adoption of tokenisation and digital money across Hong Kong’s financial ecosystem, driving and shaping the future of payments.
