HSBC tests tokenised deposit-based treasury management tools

Wednesday 1 November 2023 13:49 CET | News

HSBC has successfully tested the use of tokenised deposits in partnership with Ant Group, aiming to accelerate the development of corporate treasury management. 

Following this announcement, the tokenised deposits were successfully leveraged in intra-group payment transactions in collaboration with Ant Group.

The initiative is set to focus on the potential of deposit tokenisation in the process of allowing always-on, real-time treasury fund movement between accounts that are held by a corporate that is part of the HSBC network. 


HSBC has successfully tested the use of tokenised deposits in partnership with Ant Group, aiming to accelerate the development of corporate treasury management.

More information on the product development

The test was conducted under the Hong Kong Monetary Authority’s Fintech Supervisory Sandbox arrangement, and it included the issuance, transfer, and redemption of deposit tokens. The products are set to improve the overall research process on how blockchain and tokenisation can drive efficiencies while fostering growth in corporate treasury management. 

According to the press release, HSBC was connected to the blockchain platform developed by Ant Group during the test procedure. The platform is supported by the banking partners that are included in Ant Group’s network and it was developed in order to optimise treasury fund transfer with improved turnaround time, cost efficiency, and visibility. 

By applying the concept of tokenised deposits, the companies aim to develop the banking capabilities available in the region of Hong Kong, as a corporate treasury club. HSBC is set to continue to use tokenised deposits, alongside other financial services in order to streamline and further develop the treasury management processes for its clients and customers. 

As blockchain and Web3 technologies are enabling the acceleration of digitalisation of industry collaboration on value movement, the new products are set to significantly improve the efficiency and security of liquidity corporate treasury management. HSBC will continue to expand and optimise its tokenisation offerings and explore multiple new use cases for tokenised deposits. Alongside this, the financial institution will prioritise the process of sharing its best practices and expertise with other markets as well.

The Hongkong and Shanghai Banking Corporation Limited represents the funding member of the HSBC Group, and it aims to deliver customers and clients around the world its suite of services and products. With the development of the new tokenisation capabilities, the organisation aims to meet the needs, preferences, and demands of its users in a market that is developing at a fast pace, while focusing on remaining compliant with the requirements and demands of the industry at the same time.

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Keywords: product launch, tokenization, blockchain, web3, banking, online banking, digital banking, mobile banking, financial services, financial institutions
Categories: DeFi & Crypto & Web3
Companies: Ant Group, HSBC
Countries: Hong Kong
This article is part of category

DeFi & Crypto & Web3

Ant Group



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