Standard Chartered opened its tokenized deposit service to businesses in Hong Kong on November 2, making the city the first market in its global network to gain access. Transfers between partner banks are executed 24 hours a day through EnsembleTX, the Hong Kong Monetary Authority’s platform, and can be settled in central bank digital currency. China AMC, Finloop, and PantherTrade have already completed real transactions involving tokenized money market funds, while Fireblocks and HashKey are joining the initiative. The service is intended to reduce corporate liquidity buffers and funding costs, and Standard Chartered plans to expand it to other markets.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
