Standard Chartered and Ant Group Collaborate to Launch Commercial Blockchain Tokenized Deposit Service
BlockBeats News, December 29. Standard Chartered Bank Limited (Hong Kong) jointly launched a blockchain-based tokenized deposit solution with Ant Group International, supporting real-time fund transfers 24/7. The solution, co-developed by both parties, enables seamless fund movements in Hong Kong dollars, offshore Chinese yuan, and US dollars, significantly enhancing global enterprise 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 Group International's accounts on its proprietary blockchain-based fund management system Whale platform, the near real-time fund flow between the client's various global entities is ensured.
Ant Group International's Platform Technology General Manager Kevin Li stated that this collaboration combines Standard Chartered Bank's deep banking expertise with Ant Group International's strength in global payments and tokenization. "The new solution enhances liquidity management capabilities by providing a seamless, secure operational fund channel for global businesses."
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