Standard Chartered launches tokenised deposits in Hong Kong, a group first
Standard Chartered has launched tokenised deposits in Hong Kong, the first market in its global network to offer the capability. The blockchain-based solution, supported by the HKMA, enables round-the-clock treasury management and has been used by China AMC, Finloop and Panther Trade.
Standard Chartered launched its tokenised deposits solution in Hong Kong on Monday, making the city the first market in the banking group's global network to offer the capability to corporate clients.
Leveraging the Hong Kong Monetary Authority’s (HKMA) Ensemble infrastructure, the blockchain-based solution allows corporate treasurers, banks, investment platforms and digital asset businesses to manage treasury and liquidity operations around the clock.
Built on Standard Chartered’s proprietary blockchain infrastructure, the tool combines regulated bank deposit trust with tokenised asset programmability. It supports digital treasury workflows, including intragroup liquidity management. Developed with support from the HKMA’s Supervisory Incubator for Distributed Ledger Technology and powered by Ensemblex, the solution facilitates real-time inter-bank transfers and 24/7 settlement using central bank money, including wholesale central bank digital currency.
China AMC, Finloop and Panther Trade have already executed live tokenised deposit transactions and settled tokenised money market funds using the platform. Additionally, Standard Chartered is partnering with Fireblocks to embed native banking capabilities into the digital asset ecosystem, while HashKey has joined as an ecosystem partner.
Mary Huen Wai-yi, chief executive for Hong Kong, Greater China and North Asia at Standard Chartered, said the launch underscores Hong Kong’s position as a leading digital asset hub. Standard Chartered has been a major participant in the HKMA's Ensemble, contributing to its development and some of its earliest real-value transaction use cases, Huen said. "This has given us first-hand experience of how tokenisation can enhance efficiency, transparency and interoperability across financial markets," she added.
"The value of tokenised deposits lies in their ability to help clients move and manage liquidity more efficiently across institutions and markets," said Ole Matthiessen, global head of transaction services and digital assets. Matthiessen noted that the solution bridges digital money with practical treasury workflows.
