Standard Chartered has launched a tokenized-deposit service for corporate clients in Hong Kong, allowing businesses and financial institutions to transfer commercial bank money on blockchain infrastructure and settle transactions around the clock.
The launch makes Hong Kong the first market in the bank’s global network to offer the service to corporate clients. Built on Standard Chartered’s proprietary blockchain infrastructure, the solution uses the Hong Kong Monetary Authority’s (HKMA) EnsembleTX platform to support real-time transfers between participating banks.
The system allows interbank transactions to settle in central-bank money, including wholesale central bank digital currency, on a 24/7 basis. The arrangement is designed to improve liquidity management, reduce settlement delays and lower counterparty risk when money moves between financial institutions, Standard Chartered said in its announcement.
China AMC, Finloop and PantherTrade have already completed live tokenized-deposit transactions through the service, including settlement of tokenized money market funds using EnsembleTX.
Standard Chartered is also working with digital-asset infrastructure provider Fireblocks to integrate banking capabilities into its platform and connect the service with institutional digital-asset clients. Crypto platform HashKey has joined the ecosystem as another participant.
Unlike stablecoins, which are issued by private companies and typically backed by reserves, tokenized deposits represent money held at a commercial bank. They allow eligible customers to use existing bank deposits in blockchain-based financial transactions without first converting them into separate digital currencies.
The distinction is important for institutional clients seeking to move money between financial institutions while retaining the regulatory framework and banking relationships associated with conventional deposits.
The launch builds on Hong Kong’s efforts to develop infrastructure for tokenized financial assets. The HKMA’s EnsembleTX project is designed to support transactions involving tokenized deposits and digital assets, with settlement taking place in central-bank money.
The regulator’s platform now includes 12 banks and 20 other participating firms, according to CoinDesk. Its expansion follows an initial pilot launched in November 2025.
Standard Chartered said it plans to extend the tokenized-deposit service to additional markets over time, although it did not provide a timetable for the expansion.
The launch adds to a broader institutional effort to bring commercial bank money onto blockchain networks. Banks are developing tokenized deposits as an alternative to relying exclusively on stablecoins for digital payments, treasury management and settlement of tokenized assets.
By combining commercial bank deposits with blockchain-based transfers and central-bank settlement, Standard Chartered is seeking to bring programmable money into everyday corporate financial operations.