Standard Chartered and Ant Launch 24-Hour Tokenized Deposits

Source: CryptoTale Original Title: Standard Chartered and Ant Launch 24-Hour Tokenized Deposits Original Link: https://cryptotale.org/standard-chartered-and-ant-launch-24-hour-tokenized-deposits/

Overview

• Standard Chartered and Ant activate tokenized deposits for nonstop global liquidity.
• Businesses can move HKD, CNH, and USD instantly across regions without banking hour limits.
• The system runs inside Hong Kong Project Ensemble under active regulatory supervision.

Standard Chartered Bank Limited in Hong Kong and Ant International have launched a blockchain-based tokenized deposit system that enables funds to move in real time. The commercial rollout enables value transfers in Hong Kong dollars, Chinese yuan, and US dollars across Ant International’s global entities without waiting for traditional banking hours.

The launch follows a Hong Kong dollar test settlement completed last year and makes Ant International the first client to use the solution commercially. The project sits within the Hong Kong Monetary Authority’s Project Ensemble and its Supervisory Incubator for Distributed Ledger Technology, which supports the experimentation of regulated blockchain.

As companies seek faster access to cash across markets, one question now sits at the center of treasury operations: Can tokenized deposits replace legacy cross-border settlement models?

How the Tokenized Deposit System Works

The system operates by converting the token deposits of Ant International, which are maintained at Standard Chartered, and allowing the corresponding entities to shift their liquidity almost instantly. The movement of funds is done between accounts, thus bypassing the correspondent banks’ delays in settlement and the entire end-of-day processing cycle delays.

The availability of HKD, CNH, and USD allows treasury departments to manage their working capital in various regions without having to fund their accounts in advance. The arrangement allows the transfer of money globally as needed, especially when the conventional payment channels are still closed.

With this method, the flow of liquidity within multinational companies that work 24 hours is significantly altered. This setup improves cash efficiency, reduces idle balances, strengthens treasury control, and supports round-the-clock operations across global subsidiaries and worldwide enterprises. It also enhances real-time visibility, lowers operational risk, and improves cross-border capital efficiency.

Whale Platform and Bank Connectivity

The solution runs on Ant International’s Whale platform, a blockchain-based treasury management system that also integrates encryption and artificial intelligence. Whale already connects Ant’s global entities with several major banks, including DBS and HSBC, and supports real-time settlement across multiple jurisdictions.

The already established connectivity facilitated the transition of the tokenized deposit system from trial to commercial use without the need for re-establishing banking relationships. Each transfer is accompanied by an on-chain data record, which not only offers complete transparency of the transaction but also facilitates faster reconciliation among the markets.

As the network grows, the platform structure allows the addition of more banks and currencies. This scalability supports future expansion, regulatory compliance, and increasing enterprise demand worldwide. It positions the platform as core infrastructure for next-generation global treasury operations.

Role of Project Ensemble and Regulatory Framework

This partnership fits into Hong Kong’s broader plan to innovate its cash settlement infrastructure with the use of tokenization through Project Ensemble. Since May 2024, Standard Chartered has been actively participating in the design of the Project Ensemble Sandbox, and the testing of tokenized asset use cases is under a regulated environment.

Both Standard Chartered and Ant International are members of the Project Ensemble Architecture Community, created to accelerate tokenization adoption across the financial sector. Mahesh Kini, global head of cash management at Standard Chartered, said the partnership reflects rising demand for “just in time” liquidity and continuous treasury access.

Kelvin Li, General Manager of Platform Technology at Ant International, said the solution improves liquidity management by giving businesses secure and seamless access to working capital worldwide.