Standard Chartered launches 24/7 tokenized deposit transfer service in Hong Kong

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Standard Chartered has launched a 24/7 tokenized deposit transfer service for corporate clients in Hong Kong, the first market in its global network to offer the service. Eligible corporates can use tokenized commercial bank deposits for cash management and investment transactions, including intragroup liquidity management. The service uses HKMA’s EnsembleTX platform to support real-time transfers between participating banks, with transactions settled in central bank money, including wholesale central bank digital currency (wCBDC).