On December 18, according to the Hong Kong Economic Journal, Standard Chartered Bank (Hong Kong) and Ant International, under the framework of the Hong Kong Monetary Authority's Distributed Ledger Technology Regulatory Incubator and the Ensemble project, have tokenized Ant International's Hong Kong dollar, RMB and USD accounts through Ant International's blockchain treasury management platform "Whale Platform".
The report states that the tokenization solution, jointly developed by both parties, allows Ant Group's international business entities to adopt a new treasury management model, accelerate the transition to this model, and enable real-time 24/7 fund transfers in Hong Kong dollars, RMB, and USD.
Mahesh Kini, Global Head of Cash Management at Standard Chartered, said that as businesses become increasingly reliant on immediate liquidity, the market demand for real-time and 24/7 treasury management is growing rapidly.
