Standard Chartered Launches Blockchain Tokenized Deposit Solution in Hong Kong

Standard Chartered has introduced a blockchain-powered tokenized deposit solution in Hong Kong, enhancing onchain finance capabilities.

The product supports real-time treasury and liquidity transfers in Hong Kong dollars, offshore yuan, and US dollars, available 24/7.
Implemented on Ant International’s Whale platform, with Ant as the first client.
Part of Project Ensemble by the Hong Kong Monetary Authority to advance distributed ledger technology in wholesale finance.
Standard Chartered participates in the project's Architecture Community since May 2024, contributing to industry standards and testing tokenization use cases.

Growth in Hong Kong’s Tokenization Sector

Hong Kong regulators encourage tokenization, central to the HKMA’s Fintech 2030 strategy.
Goals include scaling RWA issuance, improving settlement systems, and expanding digital bonds.
Investor interest is rising; a survey indicates increased exposure plans to tokenized funds.
The city has executed multiple tokenized bond deals.
Standard Chartered estimates market cap for tokenized real-world assets could rise from $35 billion to $2 trillion by 2028.

This innovation signifies potential early steps towards a significant financial transformation.