PANews reported on May 24 that according to Crowdfundinsider, Ant International has become the first enterprise customer in Hong Kong to adopt HSBC's new tokenized deposit service, marking an important step in Hong Kong's efforts to integrate blockchain with traditional finance. The service enables real-time, round-the-clock payments of Hong Kong dollars (HKD) and US dollars (USD) between corporate accounts through tokenized deposits on a blockchain ledger, significantly improving cross-border fund management efficiency. The initiative was launched after a successful pilot on Ant International's own Whale platform and is the first blockchain-based settlement service led by a commercial bank in Hong Kong. The collaboration between Ant International and HSBC can be traced back to 2020, when the two established a broader partnership. Last year, the two companies also tested cross-bank transfers denominated in Hong Kong dollars under the Hong Kong Monetary Authority's "Ensemble" sandbox program.
