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HSBC Partners With Ant Group to Explore Tokenized Deposits 4w ago by

HSBC has conducted successful trials carrying out tokenized deposits in partnership with the Ant Group.

The trials involved tokenized deposits with continuous, real-time movement of treasury funds between corporate accounts within the HSBC network.

HSBC is excited to “unlock next-generation treasury solutions” in collaboration with the Ant Group.

Hong Kong’s financial giant HSBC has reportedly conducted successful trials involving tokenized deposits, enhancing treasury fund transfer with improved turnaround time and cost efficiency. 

The Hong Kong Monetary Authority, in partnership with Ant Group, a prominent Chinese financial services company that Jack Ma founded, provided a sandbox for the experiments to be conducted.

Hong Kong’s largest bank HSBC and China’s largest fintech company Ant Group have successfully tested the use of tokenized deposits in intra-group payment transactions, in a first-of-its-kind initiative in Hong Kong. It can enhance treasury fund transfer with improved turnaround…

— Wu Blockchain (@WuBlockchain) November 2, 2023

Earlier today, financial news platform Fintech News noted that tokenized deposits have the potential to…

The post HSBC Partners With Ant Group to Explore Tokenized Deposits appeared first on Coin Edition.