Standard Chartered, a UK-headquartered bank with a presence in Hong Kong, said on November 2 that it had launched tokenized deposits in Hong Kong for corporate treasury and investment workflows using the Hong Kong Monetary Authority’s EnsembleTX infrastructure.

The bank said eligible clients can transfer deposits across participating banks in real time, with 24/7 settlement in central bank money, including wholesale central bank digital currency.

China AMC, Finloop, and PantherTrade have executed live transactions. Standard Chartered is partnering with Fireblocks to embed banking capabilities into its platform, while HashKey has joined the project.

The Hong Kong Monetary Authority’s Project Ensemble aims to support Hong Kong’s tokenization market. The regulator launched a sandbox to test tokenized deposits and asset settlement, and its pilot is moving toward 24/7 operation.

Tokenized deposits sit on banks’ balance sheets and are regulated as deposits, unlike stablecoins, which are typically issued by non-banks and backed by reserves.

🔗 Source: Standard Chartered

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