(26 May 2025 – Hong Kong) HSBC has announced the live launch of its Tokenised Deposit Service for corporate clients in Hong Kong, introducing the first bank-led, blockchain-based settlement service in the city.
The Tokenised Deposit Service will initially support treasury management with real-time, always-on HKD and USD payments between corporate wallets held by a client at HSBC Hong Kong. Built on HSBC’s own network and technologies, the new infrastructure establishes a robust foundation for enhancing the Bank’s digital money capabilities. It also supports settlement requirements for tokenisation use cases, including those being explored under Hong Kong Monetary Authority (HKMA)’s Project Ensemble.
Building on HSBC’s active involvement in Project Ensemble, the Tokenised Deposit Service is designed to integrate with, and support HKMA’s tokenisation and digital money infrastructure development. The strategic alignment paves the way for broader adoption of tokenisation and digital money across Hong Kong’s financial ecosystem, driving and shaping the future of payments.
Ant International is the first client to adopt the service. HSBC has supported Ant International to successfully complete an instant fund transfer between its entities through tokenisation of their deposits. The transaction, initiated by Ant International through its internal global treasury management platform, brings improved transparency, flexibility and efficiency to its liquidity management.
“Tokenised deposits, when supported by regulated financial institutions, can offer a safe and fully compliant approach to improving payments and cash management for corporates. We are pleased to launch the Tokenised Deposit Service in Hong Kong, an international financial centre committed to driving digital money innovation” commented HSBC Global Head of Domestic and Emerging Payments, Global Payments Solutions, Lewis Sun.
“This service sets a new benchmark for efficiency and innovation in digital money solutions for corporates. We will continue to enhance our capabilities to enable Tokenised Deposit Service across markets, leveraging the ability of programmability and atomic settlement features of tokenisation to deliver tangible benefits for our clients” Sun added.
“We are proud to extend our partnership with HSBC, following our collaboration under Project Ensemble last year. HSBC shares our commitment to redefine the future of liquidity management through innovation, technology and collaboration. We believe that tokenisation is the key to bridge the stability of traditional banking, with the efficiency of blockchain. Through industry public-private collaborations and by working with leading partners, we aim to unlock more transparent, accessible and efficient treasury management solutions for businesses worldwide” stated Ant International General Manager of Platform Tech, Kelvin Li.