Standard Chartered launches 24/7 tokenised deposits in Hong Kong

Standard Chartered launched tokenised deposits for corporate clients in Hong Kong on Nov. 2, giving businesses a way to move bank deposits around the clock through the city’s shared settlement network, according to the bank’s launch announcement.

• Hong Kong is the first market in Standard Chartered’s global network to offer the service to corporate clients.
• Transfers between participating banks can run 24 hours a day, seven days a week.
• The HKMA says EnsembleTX now has 12 participating banks and 20 industry pioneers.

How do the tokenised deposits move between banks?

The service represents commercial bank deposits as digital tokens that can move through blockchain infrastructure. Standard Chartered says its solution uses the bank’s proprietary blockchain and the Hong Kong Monetary Authority’s EnsembleTX network.

When a transfer crosses between participating banks, the banks settle using central bank money, including wholesale central bank digital currency, or wCBDC. That is the digital form of money issued by a central bank for use between financial institutions. The HKMA says the new capability supports interbank settlement beyond conventional operating hours.

The deposits remain commercial bank money held with a bank. CoinDesk’s report on the launch notes that this differs from a stablecoin, which is a separate digital token issued by a private company. For corporate clients, the arrangement is intended to let funds move outside regular banking hours without first converting them into stablecoins.

Which firms have already used the service?

Standard Chartered says China AMC, Finloop and PantherTrade have executed live tokenised deposit transactions. It also says those transactions included settlement of tokenised money market funds, investment funds represented as digital tokens, through EnsembleTX.

The bank did not publish transaction values or say how many institutions will initially have access, according to CoinDesk. The announcement names Fireblocks as a partner that will embed banking capabilities in its platform, while HashKey has joined the ecosystem. The companies are exploring treasury management and connections between investment and capital markets activity, the bank said.

What role does EnsembleTX play in the launch?

EnsembleTX is the pilot phase of the HKMA’s Project Ensemble. The HKMA announced on Nov. 2 that it had added 24/7 settlement in tokenised central bank money and expanded participation to 12 banks and 20 industry pioneers, according to its Project Ensemble update.

The pilot began in November 2025 and initially used Hong Kong’s real-time gross settlement system for interbank settlement. The HKMA says the project has supported real-value transactions involving tokenised deposits and digital assets, including corporate treasury management and tokenised money market fund transactions.

Standard Chartered says it plans to expand the deposit service to more markets over time, but has not announced a timetable. For now, the launch places Hong Kong first in the group’s network and ties the bank’s corporate service to an infrastructure designed for settlement across institutions at any hour.

Sources and documents

• launch announcement — sc.com
• Project Ensemble update — hkma.gov.hk