Standard Chartered Launches 24/7 Tokenized Deposits as Hong Kong Expands Stablecoin Plans
Standard Chartered has launched 24/7 tokenized deposits for corporate clients in Hong Kong, according to CoinDesk. China AMC, Finloop and PantherTrade have already executed live tokenized-deposit and money-market-fund transactions on the new system, the bank told The Defiant.
The launch comes as Hong Kong’s financial regulators work to extend tokenized settlement further. The Hong Kong Monetary Authority plans to bring regulated stablecoins into its tokenized government debt trials, according to Cointelegraph. Separately, HSBC says its RedCoin stablecoin has reached 50,000 users, per the same report.
Together, the initiatives point to Hong Kong testing round-the-clock settlement that links tokenized bank deposits, tokenized government bonds and regulated stablecoins within existing regulatory frameworks.
Sources: Cointelegraph, The Defiant, CoinDesk
This article is for information only and is not financial advice.
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