Standard Chartered has launched a tokenized deposit solution allowing clients to move funds from traditional bank ledgers onto blockchain infrastructure for real-time treasury operations, with Ant International becoming the first adopter.
The solution went live last week following a pilot of SGD-denominated liquidity transfers. Ant International can now access tokenized SGD and USD account balances on its Whale platform, a blockchain-based global treasury management system that operates around the clock.
The solution allows Ant International to shift treasury operations to continuous settlement rather than batch processing constrained by business day cutoffs. The bank emphasized the immutability, speed, and efficiency inherent to distributed ledger technology compared to traditional correspondent banking arrangements.
Mahesh Kini, global head of cash management at Standard Chartered, said in a statement that demand for real-time and 24/7 treasury management is accelerating as corporates increasingly rely on just-in-time liquidity. The bank positioned the deployment as setting a blueprint for commercial banks to facilitate fund movement from traditional ledgers to blockchain rails.
The integration enables Ant International to deploy liquidity across its entities with near-instantaneous settlement rather than waiting for standard banking hours. The solution supports SGD and USD transactions in Singapore, with additional capabilities for HKD, CNH, and USD in Hong Kong.
Kelvin Li, general manager of platform tech at Ant International, said the combination of Standard Chartered's banking capabilities with Ant's tokenization and global payment expertise enhances liquidity management by providing seamless access to working capital across the company's global operations.
The project builds on learnings from the Monetary Authority of Singapore's Project Guardian, an initiative bringing together policymakers and financial institutions to test asset tokenization for improved market liquidity and efficiency. Both Standard Chartered and Ant International participate in Guardian.
Ankur Kanwar, head of transaction banking for Singapore and ASEAN at Standard Chartered, described tokenized deposits as having potential to enhance settlement efficiency and enable new financial use cases. He framed the partnership as supporting Singapore's development as a digital finance hub.
Standard Chartered has been active in tokenization initiatives, partnering with Ant International on multiple blockchain projects. The tokenized deposit rollout marks the bank's transition from pilot programs to commercial deployment of blockchain-based cash management products.
The system maintains integration with Ant International's existing Standard Chartered bank accounts while adding blockchain-based movement capabilities. Funds can flow between traditional accounts and tokenized balances, enabling treasury managers to optimize liquidity placement across both systems.
