Standard Chartered conducts HKD blockchain transactions with Ant International
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Standard Chartered conducts HKD blockchain transactions with Ant International 01 November 2024Hong Kong Reporter: Klea Neza
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Standard Chartered and Ant International have completed the HKD-denominated intra-group transactions between Ant International entities.
Ant International will apply the treasury management principles to move funds between entities using its Whale platform, a treasury management solution that utilises blockchain technology, advanced encryption and AI to improve the efficiency and transparency of fund movements.
Both companies are participants of the HKMA’s Ensemble Sandbox.
Since May this year, Standard Chartered Hong Kong has been participating in Project Ensemble as a member of its Architecture Community, to jointly develop industry standards and assist in the design and implementation of the Ensemble Sandbox, which tests use cases for tokenisation.
Ant International is developing two use cases using its Whale platform.
Anthony Lin, head of Hong Kong, Greater China, North Asia, and global head of Market Management, Transaction Banking at Standard Chartered, comments: “Standard Chartered are committed to adopting the latest technology and collaborating with our regulatory stakeholders to enable the next phase of financial market infrastructure powered by blockchain and tokenisation.
“As a member in the Architecture Community of the HKMA’s Project Ensemble, Standard Chartered is excited to work closely with clients, including Ant International, to co-create solutions that will provide seamless, 24/7, real time treasury solutions.”
Kelvin Li, head of Platform Tech at Ant International, says: “Through combining Standard Chartered’s core banking capabilities with Ant International’s innovative technologies, such as the Whale platform, we are able to leverage tokenisation to facilitate cross-border transactions in a more efficient, secure and seamless manner.”
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