Standard Chartered debuts blockchain tokenized deposits
- ByStartupStory | December 19, 2025
Standard Chartered Launches Blockchain Tokenized Deposits
Standard Chartered has debuted a blockchain-based tokenized deposit solution in Hong Kong and Singapore, enabling real-time 24/7 treasury and liquidity transfers across multiple currencies including HKD, CNH, USD, and SGD.
Partnership with Ant International Drives Innovation
The solution integrates Standard Chartered’s distributed ledger platform with Ant International’s Whale blockchain treasury platform, marking the transition from pilot to production. Ant International serves as the bank’s first client, leveraging the technology for seamless intra-group liquidity deployment and enhanced working capital management. Both entities participate in Hong Kong’s EnsembleTX group and Singapore’s Guardian initiative, which promote tokenization standards in wholesale finance.
Mahesh Kini, Global Head of Cash Management at Standard Chartered, highlighted the growing demand for “just-in-time” liquidity, positioning the product to deliver blockchain efficiency while maintaining traditional banking safeguards. Kelvin Li from Ant International noted the combination of deep banking expertise with tokenization prowess for secure global payments.
Key Features and Operational Benefits
Tokenized deposits allow instantaneous transfers without intermediaries, operating around the clock to address time zone limitations in cross-border operations. The system supports HKD, offshore yuan (CNH), and USD in Hong Kong, plus SGD and USD in Singapore, facilitating efficient fund management for multinational corporates. It builds on learnings from regulatory sandboxes like HKMA’s Project Ensemble and MAS’s Guardian, ensuring compliance with existing frameworks.
This innovation reduces settlement times from days to seconds, cuts costs via programmability, and enhances transparency through immutable ledgers. Standard Chartered anticipates tokenized real-world assets (excluding stablecoins) scaling from $35 billion to $2 trillion by 2028, with deposits as a foundational step.
Strategic Context in Tokenization Ecosystem
Standard Chartered’s move aligns with its broader digital assets strategy, including stablecoin issuance plans, Partior network participation, and crypto custody services. The bank has piloted tokenized bonds and money market funds, contributing to industry standards via Project Ensemble’s Architecture Community since May 2024. In parallel, Hong Kong’s retail investor surveys show strong appetite for tokenized products due to faster settlements and liquidity.
Ankur Kanwar, Head of Transaction Banking for Singapore and ASEAN, emphasized the role in positioning Singapore as a digital finance hub. The solution sets a blueprint for banks bridging legacy ledgers with blockchain, potentially unlocking new use cases in trade finance and collateral management.
Broader Market Implications
As corporates demand real-time treasury tools, tokenized deposits could transform $10 trillion+ in global liquidity pools. Hong Kong and Singapore lead Asia’s tokenization race, with pilots proving scalability for wholesale applications. Standard Chartered’s production rollout validates DLT’s maturity, likely spurring competitors like HSBC and JPMorgan to accelerate similar offerings.
Challenges remain in interoperability, regulatory harmonization across jurisdictions, and scaling to retail volumes. Yet, with institutional backing and pilot successes, tokenized deposits signal the onset of on-chain finance mainstreaming, blending fiat stability with blockchain speed.
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