Standard Chartered launches tokenized deposits for corporate clients in Hong Kong
Standard Chartered brings tokenized deposits to Hong Kong corporate clients
Standard Chartered has launched a tokenized deposits service for corporate clients in Hong Kong, the first market in the group where the bank offers it. The service lets a business move money held at the bank in a digital form, using the bank's blockchain system (a shared digital record of transactions) together with infrastructure built by the Hong Kong Monetary Authority (HKMA), the city's central bank.
Deposits can be transferred between participating banks in real time, and the final settlement is done with tokenized central bank money — that is, central bank money represented in digital form. The launch coincides with the HKMA's expansion of its EnsembleTX system to 24-hour settlement using tokenized central bank money.
Key points
- Standard Chartered launched tokenized deposits for corporate clients in Hong Kong.
- The service runs on the bank's blockchain system and HKMA infrastructure, with settlement in tokenized central bank money.
- China AMX and PantherTrade have completed live transactions through the service, according to the source.
- The HKMA said EnsembleTX now includes 12 banks and 20 other participating firms, expanding a pilot launched in November 2025.
- The bank did not disclose transaction values or how many institutions initially have access.
What the HKMA and the bank confirmed
The HKMA said Monday that its EnsembleTX project, a pilot started in November 2025, has grown to include 12 banks and 20 other participating firms. The project supports transactions involving tokenized deposits and digital assets.
Standard Chartered's announcement says Hong Kong is the first market offering the service to corporate clients. Unlike stablecoins — digital tokens pegged to a currency and issued by private companies such as Tether or Circle — tokenized deposits remain money held at a bank. For businesses, this means moving funds outside regular banking hours without first converting deposits into stablecoins.
What is still unclear
The source contains conflicting statements about expansion: one passage says the bank has plans to expand the service elsewhere, while another says there are no immediate plans to expand beyond Hong Kong. The bank also did not disclose the value of transactions completed or how many institutions would initially have access to the service, so the scale of the launch cannot be confirmed.
How it fits into the wider banking push into blockchain
Major banks including JPMorgan and Citi are currently developing blockchain payment systems, according to the source. Standard Chartered has been involved in digital assets for years and has recently stepped up its activity: testing blockchain payments with HSBC, offering bitcoin and ether trading in the UAE, and expanding crypto custody services in Singapore. The bank is also working with Fireblocks to connect the tokenized deposits service to digital asset clients, and Hashkey has joined the initiative.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.