Standard Chartered has launched a blockchain-based tokenised deposits solution for Ant International, enabling real-time treasury management in Singapore Dollars (SGD) and United States Dollars (USD). This initiative, built on the learnings from the Monetary Authority of Singapore’s Guardian initiative, allows Ant International to future-proof its treasury operations with 24/7 liquidity movement.
The solution marks a significant milestone in Standard Chartered’s tokenisation journey, setting a blueprint for commercial banks to transition funds from traditional ledgers to blockchain technology. This advancement highlights the benefits of distributed ledger technology, including immutability, speed, and efficiency.
Mahesh Kini, Global Head of Cash Management at Standard Chartered, emphasised the growing demand for real-time liquidity, stating, “As corporates and institutions increasingly rely on ‘just in time’ liquidity, demand for real-time and 24/7 treasury management is rapidly accelerating.” He added that the collaboration with Ant International is part of the bank’s ongoing efforts to innovate and provide seamless blockchain-based solutions.
Ankur Kanwar, Head of Transaction Banking Singapore and ASEAN at Standard Chartered, noted the broader implications for Singapore’s financial landscape, saying, “This is a significant step forward in our journey to support Singapore’s growth as a leading digital finance hub.”
The tokenised deposit solution not only enhances liquidity management for Ant International but also facilitates transactions in multiple currencies, including Hong Kong Dollars (HKD) and Chinese Yuan (CNH), across different markets. This development underscores the potential of tokenised deposits to improve settlement efficiency and enable new financial use cases.
