HSBC has launched a corporate treasury management solution based on tokenized deposits, with its first client being Ant International.

Techub News, according to Hong Kong Wen Wei Po, HSBC today announced the launch of a tokenized deposit-based corporate treasury management solution in Hong Kong, which is the first blockchain settlement service provided by a bank in Hong Kong. In the initial phase of the launch, HSBC Hong Kong corporate customers will be able to make HKD or USD transfers between wallets held by different companies in their names, regardless of transaction time, and can be completed in real time, helping to improve the efficiency of treasury management. HSBC's tokenised deposit infrastructure, built on its own blockchain, lays the foundation for further enhancement of digital currency capabilities in the future, while supporting the settlement of funds required for other tokenised use cases, including the use case of the Ensemble project led by the HKMA.

Ant International became the first corporate client to adopt the solution, with its companies successfully completing instant internal fund transfers after tokenising deposits in HSBC accounts. In the process, Ant International directly issued instructions to HSBC through its internal treasury management platform, Whale, to conduct tokenized deposit transfer transactions, significantly improving the transparency, flexibility and efficiency of corporate treasury management.