HSBC Expands Blockchain Treasury Service to Singapore With Ant International

HSBC has launched its Tokenized Deposit Service in Singapore, marking the first cross-border use of its blockchain-based treasury platform after its initial rollout in Hong Kong. ANT International became the inaugural client to execute real-time SGD and USD digital token payments between corporate wallets held with HSBC Singapore, leveraging the service's 24/7 instant settlement capabilities.

The MOVE underscores growing institutional adoption of distributed ledger technology for corporate treasury operations, enabling programmable transfers that circumvent traditional banking cut-off times and settlement delays. "Finance and treasury teams demand real-time functionality, even during offline periods," said Lewis Sun, HSBC's global head of domestic and emerging payments. "Interoperability across CBDCs, tokenized deposits, and stablecoins will be pivotal as digital money evolves."

HSBC's solution uses blockchain to represent traditional deposits as digital tokens, facilitating programmable payments directly from client systems. The technology supports conditional transfers and atomic settlements, reflecting the accelerating convergence of traditional finance and decentralized infrastructure.