Standard Chartered Put Bank Deposits on 24/7 Blockchain Rails
Corporate money usually stops moving when banks close, Standard Chartered is trying to change that now: the bank has launched tokenized deposits in Hong Kong, letting corporate clients transfer money between participating banks around the clock.
â How does it work? The money remains a normal bank deposit, while blockchain is used to move it. Interbank settlement happens in central bank money.
Hong Kong became the first market because the infrastructure is already there: the HKMA's EnsembleTX network now connects 12 banks and 20 other firms and supports 24/7 settlement. Standard Chartered had also been testing tokenized deposits there before moving to a commercial launch đđ°
And this fits a much broader crypto strategy:
- Standard Chartered already offers institutional spot trading in $BTC and ETH in the UAE,
- it is expanding digital-asset custody in Singapore,
- and has agreed to acquire Zodia Custody.
So now the same institution is building 2 parallel rails: crypto services on one side and tokenized traditional banking on the other.
#Macro Insights# #Tokenization
#StandardChartered
Corporate money usually stops moving when banks close, Standard Chartered is trying to change that now: the bank has launched tokenized deposits in Hong Kong, letting corporate clients transfer money between participating banks around the clock.
â How does it work? The money remains a normal bank deposit, while blockchain is used to move it. Interbank settlement happens in central bank money.
Hong Kong became the first market because the infrastructure is already there: the HKMA's EnsembleTX network now connects 12 banks and 20 other firms and supports 24/7 settlement. Standard Chartered had also been testing tokenized deposits there before moving to a commercial launch đđ°
And this fits a much broader crypto strategy:
- Standard Chartered already offers institutional spot trading in $BTC and ETH in the UAE,
- it is expanding digital-asset custody in Singapore,
- and has agreed to acquire Zodia Custody.
So now the same institution is building 2 parallel rails: crypto services on one side and tokenized traditional banking on the other.
#Macro Insights# #Tokenization
#StandardChartered
