CryptoMediaClub
Monday, July 7, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Blockchain

HSBC and Ant Group test tokenized deposits under HKMA sandbox

01.11.2023
A A
0
124
VIEWS
ShareShare

Banking giant the Hong Kong and Shanghai Banking Corporation (HSBC) has tested the use of tokenized deposits — from issuance to transfer to redemption — with major Chinese financial services provider Ant Group, founded by Jack Ma, in a sandbox arranged by the Hong Kong Monetary Authority.

The initiative led by the banking institutions aimed to explore the potential of deposit tokenization in enabling always-on, real-time treasury fund movement between accounts held by a corporation within the HSBC network.

During the test, HSBC was connected to the blockchain platform developed by Ant Group and supported by Ant Group’s banking partners. In an official communication shared with Cointelegraph, HSBC revealed that the test encompassed the issuance, transfer and redemption of deposit tokens, adding:

“It will pave the way for future research on how blockchain and tokenization can drive efficiencies and foster innovations in corporate treasury management.”

The involvement of Ant Group’s banking partners enhances treasury fund transfer with improved turnaround time, cost efficiency and visibility. Vincent Lau, global head of emerging payments and global payments solutions at HSBC, confirmed the bank’s interest in leveraging tokenized deposits and other financial innovations to streamline and optimize treasury management for clients.

HSBC has also been an active participant in various central bank digital currency initiatives, including Swift cross-border CBDC initiative Project mBridge.

Related: HSBC trialing quantum-safe financial transaction network in the UK

HSBC reportedly introduced its first local cryptocurrency services in June 2023.

SCOOP: HSBC, the largest bank in Hong Kong, today allows its customers to buy and sell Bitcoin and Ethereum ETFs listed on the Hong Kong exchange, and is also the first bank in Hong Kong to allow it. The move will expand local users’ exposure to cryptocurrencies in Hong Kong. pic.twitter.com/vH0LieSVGw

— Wu Blockchain (@WuBlockchain) June 26, 2023

According to the report, HSBC would offer cryptocurrency exchange-traded funds listed on the Stock Exchange of Hong Kong, which include CSOP Bitcoin Futures ETF, CSOP Ethereum Futures ETF and Samsung Bitcoin Futures Active ETF.

HSBC did not immediately respond to Cointelegraph’s request for comment.

Magazine: Slumdog billionaire: Incredible rags-to-riches tale of Polygon’s Sandeep Nailwal

Share10Tweet6ShareSharePin2

Related Posts

Tether USDT: Massive 1 Billion Minting Sparks Crucial Market Shift
Blockchain

Tether USDT: Massive 1 Billion Minting Sparks Crucial Market Shift

04.07.2025
0

Skip to content

Read moreDetails
Hancom With Pioneers RWA Space with Gold-Backed Stablecoin

Hancom With Pioneers RWA Space with Gold-Backed Stablecoin

03.07.2025
Stablecoin Revenue Soars: Companies Post Massive $10 Billion Annual Earnings

Stablecoin Revenue Soars: Companies Post Massive $10 Billion Annual Earnings

03.07.2025
Kazakhstan Crypto Reserve: Unlocking a Bold Future for National Digital Assets

Kazakhstan Crypto Reserve: Unlocking a Bold Future for National Digital Assets

30.06.2025
Web3 Security: GoPlus Unveils Crucial Clarification on Venus Protocol $2M Theft

Web3 Security: GoPlus Unveils Crucial Clarification on Venus Protocol $2M Theft

25.06.2025
Load More
Next Post

Is the Bitcoin (BTC) Price Rally in Danger? Ominous Overheating Signal to Watch

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

CZ Responds to Allegations of Binance Dumping Bitcoin to Defend BNB

2 years ago
Bitcoin (BTC) Price Briefly Retakes $68,000 as US Dollar Dips on Dovish Remarks from Fed Chair Powell

Bitcoin (BTC) Price Briefly Retakes $68,000 as US Dollar Dips on Dovish Remarks from Fed Chair Powell

1 year ago
Unlocking the Potential: Understanding ERC-20 Tokens on Ethereum

Unlocking the Potential: Understanding ERC-20 Tokens on Ethereum

2 years ago
Google Files Lawsuit Against Crypto Scammers for Launching Fraudulent Apps on Google Play

Google Files Lawsuit Against Crypto Scammers for Launching Fraudulent Apps on Google Play

1 year ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Russian Ministry Starts Compiling National Registry of Crypto Mining Rigs

Brazil’s Central Bank Hack Sparks $40M Crypto Laundering in BTC, ETH

Drake Compares Love Life to Bitcoin Price Swings in New Lyrics

Ethereum Price Prediction: ETH Holds Narrow Range as ETF Demand Builds – Is a Breakout Near?

Mercado Bitcoin to Tokenize $200M in RWAs on XRP Ledger, Ripple Reveals

XRP Price Prediction: Is Consolidation Over? Crypto Michael’s Chart Hints at Explosive Move

Trending

UK’s Smarter Web Company Acquires $24M Worth of Bitcoin, Holdings Reach 1,000 BTC
All news

UK’s Smarter Web Company Acquires $24M Worth of Bitcoin, Holdings Reach 1,000 BTC

07.07.2025
0

The Smarter Web Company, a London-listed technology firm, has announced the acquisition of an additional 226.42 Bitcoin...

US Secret Service Builds $400M Crypto War Chest From Seized Scams Over 10 Years

US Secret Service Builds $400M Crypto War Chest From Seized Scams Over 10 Years

07.07.2025
[LIVE] Crypto News Today: Latest Updates for July 7, 2025 – “Fiat Is Hopeless”: Elon Musk Says ‘America Party’ Will Embrace Bitcoin

[LIVE] Crypto News Today: Latest Updates for July 7, 2025 – “Fiat Is Hopeless”: Elon Musk Says ‘America Party’ Will Embrace Bitcoin

07.07.2025
Russian Ministry Starts Compiling National Registry of Crypto Mining Rigs

Russian Ministry Starts Compiling National Registry of Crypto Mining Rigs

07.07.2025
Brazil’s Central Bank Hack Sparks $40M Crypto Laundering in BTC, ETH

Brazil’s Central Bank Hack Sparks $40M Crypto Laundering in BTC, ETH

07.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz