Standard Chartered and Ant International Complete First HKD Blockchain Transactions, Pioneering New Treasury Solutions

Standard Chartered and Ant International Complete First HKD Blockchain Transactions, Pioneering New Treasury Solutions

(IN BRIEF) Standard Chartered has conducted its first blockchain-based HKD intra-group transactions with Ant International, using Ant’s Whale platform for more efficient treasury management. This collaboration demonstrates both companies’ commitment to leveraging advanced technology for secure, transparent transactions, with Standard Chartered participating in the HKMA’s Ensemble Sandbox to explore tokenization in interbank settlements. The partnership aims to improve cross-border liquidity management by integrating Standard Chartered’s banking systems with Ant’s blockchain-enabled technology.

(PRESS RELEASE) LONDON, 2-Nov-2024 — /EuropaWire/ — Standard Chartered has successfully completed its first HKD-denominated blockchain-based intra-group transactions with Ant International, marking a major milestone in both companies’ efforts to leverage cutting-edge technologies for more efficient treasury management. Using Ant International’s Whale platform, a next-generation treasury solution powered by blockchain, encryption, and AI, funds were transferred between Ant International’s entities with enhanced transparency and efficiency.

This transaction highlights Standard Chartered’s dedication to pioneering secure, efficient payment infrastructure through innovation. As an active participant in the Hong Kong Monetary Authority’s (HKMA) Ensemble Sandbox, Standard Chartered is contributing to Project Ensemble, which explores the potential of wholesale central bank digital currency (wCBDC) for tokenized interbank settlements. The Ensemble Sandbox collaboration allows Standard Chartered and Ant International to experiment with real-world tokenized payment flows, setting the foundation for future advances in global financial infrastructure.

Standard Chartered’s commitment to transformative technology aligns with its mission to streamline corporate treasury operations. Anthony Lin, Standard Chartered’s Head of Hong Kong and Greater China & North Asia, emphasized the importance of efficient working capital and collaboration with regulatory bodies to enable real-time treasury solutions. Similarly, Mahesh Kini, Global Head of Cash Management, noted that this collaboration with Ant International supports clients’ needs for greater liquidity, speed, and visibility in working capital, enhancing control and accessibility.

Through this partnership, Standard Chartered and Ant International aim to improve cross-border liquidity management. Kelvin Li, Head of Platform Tech at Ant International, highlighted the value of tokenization in making cross-border transactions more secure, efficient, and seamless by integrating Standard Chartered’s banking capabilities with Ant’s advanced technologies. This achievement reinforces Standard Chartered’s vision of reshaping finance through strategic innovation and participation in global digital finance initiatives like the HKMA’s Stable Coin Issuer Sandbox and other groundbreaking projects.

About Ant International

Headquartered in Singapore, Ant International powers the future of global commerce with digital innovation for everyone and every business to thrive. In close collaboration with partners, we support merchants of all sizes worldwide to realise their growth aspirations through a comprehensive range of tech-driven digital payment and financial services solutions.

Standard Chartered

We are a leading international banking group, with a presence in 52 of the world’s most dynamic markets and serving clients in a further 64. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.

Standard Chartered PLC is listed on the London and Hong Kong stock exchanges.

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Media Contacts:

Standard Chartered:
Lilian Goh
Corporate & Business Communications
Lilian.goh@sc.com

Ant International:
Kahmun Leong
Communications Manager
kahmun.leong@antgroup.com

SOURCE: Standard Chartered