Standard Chartered Bank has launched tokenized deposits in Hong Kong, supporting round-the-clock interbank settlement

Standard Chartered Bank announced the launch of a tokenized deposit scheme in Hong Kong, making it the first market within the group to offer this scheme to corporate clients. The scheme is based on Standard Chartered's own blockchain infrastructure and relies on the Hong Kong Monetary Authority's Ensemble TX, allowing corporate treasury, banking, investment platforms, and digital asset businesses to use commercial bank deposits in digital treasury and investment processes, including internal liquidity management within the group.

According to Standard Chartered's announcement, tokenized deposits can be transferred in real-time between participating banks, with interbank settlements in central bank currency, including wholesale central bank digital currency, and supporting 24/7 operations. Huaxia Fund, Finloop, and PantherTrade have completed real-time tokenized deposit transactions and tokenized money market fund settlements.