Standard Chartered Launches Tokenized Deposits on Blockchain
- Standard Chartered enables real-time treasury transfers using tokenized deposits.
- Ant International becomes the first client using blockchain deposits for liquidity control.
- Project Ensemble supports regulated tokenized banking expansion inside Hong Kong.
Standard Chartered has launched a blockchain-based tokenized deposit solution for Ant International, enabling near real-time treasury transfers in HKD, CNH, and USD. The rollout places the bank among the first global lenders to deploy tokenized deposits in live corporate operations. Ant International is the first client to use the system.
The launch forms part of the Hong Kong Monetary Authority’s Project Ensemble, which supports regulated experimentation with distributed ledger technology across the financial sector. The solution operates on Ant International’s Whale platform and allows treasury transfers to occur around the clock rather than during limited banking hours. The system targets corporate treasury activity and focuses on improving liquidity movement and cash visibility across large corporate structures.
Tokenized Deposits in Live Treasury Use
Standard Chartered worked with Ant International to integrate tokenized deposits directly into the Whale platform, which Ant uses for treasury and liquidity management. The structure allows Ant International to move funds between internal entities at any time, without waiting for standard settlement windows.
Treasury teams can monitor balances continuously, which changes how liquidity planning works across global business units. Tokenized deposits represent actual bank deposits issued by Standard Chartered and recorded digitally on a blockchain. Each token remains fully backed by funds held at the bank.
This structure separates tokenized deposits from stablecoins, which often rely on reserves held outside traditional banking systems. Ant International uses the deposits on its Whale platform, while Standard Chartered remains the issuing bank that holds the underlying money. Transfers occur almost instantly within the system, even outside normal banking hours, improving treasury responsiveness.
Project Ensemble and Settlement Limits
The launch occurs as part of Project Ensemble, an initiative by the Hong Kong Monetary Authority to test distributed ledger technology in a regulated environment. Standard Chartered is joining the program to investigate the potential of tokenization to function within its legal and banking structures.
The technology enables the instantaneous movement of funds in HKD, offshore CNY, and USD, which correspond to the requirements of global treasury functions. Even with quicker transfers within the bank, the interbank settlement remains tied to Hong Kong’s real-time gross settlement (RTGS) system.
The implication of this is that interbank transfers still do not happen in real time, even with the participation of tokenized deposits. Thus, the instant advantage is limited to the internal treasury management process, not the entire market-wide instant settlement. The structure shows how blockchain-based tools currently complement traditional financial infrastructure rather than replace it.
Corporate Treasury Efficiency and Visibility
Standard Chartered designed the tokenized deposit system specifically for corporate treasury use. Ant International is the first company to deploy it in daily operations. Large corporate groups can reduce idle balances by moving money more frequently and with clearer visibility.
The ability to shift liquidity across entities at any time supports tighter cash management and operational flexibility. Treasury teams can also track funds in real time, which improves short-term planning and balance management. These features address long-standing challenges tied to cut-off times, batch processing, and delayed settlement.
Related: Standard Chartered Drives Web3 Payments Through DeCard
Technology Structure and Industry Context
Tokenized deposits use blockchain technology to represent value digitally, similar to stablecoins at a technical level. The difference lies in the backing structure, since deposits remain inside regulated banks rather than external reserve arrangements.
This enables tokenized deposits to exhibit the same legal traits as conventional bank funds, thereby fulfilling banking regulation requirements. To this end, significant players in the banking sector are actively adopting the same strategies, aimed at upgrading their old technology and reducing the time taken for settlements.
Such actions are a sign of the shift towards tokenization and the digital asset infrastructure already taking place in traditional finance. Companies involved in treasury software and ERP are anticipating because they provide the capability for businesses to operate with tokenized deposits in several banks through a single interface.
