HSBC completes tokenized deposit pilot on Canton Network, supporting real-time settlement in USD, HKD, and other currencies

robot
Abstract generation in progress

ME News Report, April 13 (UTC+8), HSBC’s Global Payments Solutions (GPS) business has successfully completed a pilot of tokenized deposit services (TDS) on the regulated public blockchain Canton Network, simulating the entire process of issuing, transferring, and atomically settling tokenized deposits with other digital assets. This is HSBC’s first issuance and use of TDS on a public blockchain. HSBC TDS supports major currencies such as USD, GBP, EUR, HKD, SGD, and can convert fiat deposits into digital tokens at a 1:1 ratio, enabling instant transfers on HSBC’s ledger, supporting 24/7 real-time settlement and programmable payments. Manish Kohli, Head of HSBC Global Payments Solutions, stated that this pilot demonstrates the evolution direction of tokenization in banking and the necessary infrastructure, with the company’s focus on building secure, interoperable capabilities to enable customers to transfer funds more efficiently across different environments. Yuval Rooz, co-founder of Canton Network and CEO of Digital Asset, said that tokenized deposits are accelerating in capital markets, corporate banking, and treasury management, and Canton has become one of the main deployment networks. (Source: Foresight News)

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin