Standard Chartered Bank has launched a tokenized deposits solution for the HKD, CNH, SGD and USD accounts of Ant International on the latter’s blockchain-based, real-time treasury management platform – the Whale platform.

The solution co-created by the bank and Ant International allows the latter’s entities to accelerate their shift to superior, future-proof treasury management and real-time 24/7 movement of value in HKD, CNH, SGD and USD through tokenization.

Ant International is the first client of Standard Chartered to adopt the solution. Both companies are members of Project Ensemble launched by the Hong Kong Monetary Authority to accelerate the adoption of tokenization in Hong Kong.

In Singapore, the use case builds on lessons from the Monetary Authority of Singapore’s ( MAS ) Guardian initiative, which aims to enhance the liquidity and efficiency of financial markets through tokenization.  

“As corporates and institutions increasingly rely on ‘just in time’ liquidity, demand for real time and 24/7 treasury management is rapidly accelerating,” says Mahesh Kini, global head of cash management at Standard Chartered. “Driven by a shared vision of shaping the future of cash management, we are pleased to partner with Ant International from the conceptualization to the commercial launch of this solution. This is part of our continued efforts to continuously innovate our solutions and offer our clients seamless and safe access to blockchain-based cash management and investment solutions.”

Kelvin Li, general manager of platform tech at Ant International, adds: “We are delighted to continue partnering with Standard Chartered on innovations in tokenized deposits that serve the cross-border payment needs of businesses of all sizes. By combining Standard Chartered’s deep banking capabilities with Ant International’s expertise in tokenization and global payments, the new solution enhances our liquidity management by providing seamless and secure access to the working capital needs of our businesses globally.”

The tokenized deposit solution enables effective and efficient intra-group deployment of liquidity for Ant International and its entities. The integration of Ant International’s bank accounts held with Standard Chartered with tokenized deposits ensures a seamless and near real-time flow of liquidity between the various entities, leading to enhancements in the management of Ant International’s treasury and working capital.

The solution includes capabilities for transactions in SGD and USD in Singapore, and HKD, CNH and USD in Hong Kong, making it easier for users in different markets to transact and settle with the currencies they already work with. This innovative workflow is especially beneficial for global companies that transact across borders and need instant and 24/7 liquidity management.