HONG KONG, May 23, 2025 — Ant International has partnered with HSBC to introduce a Tokenised Deposit Service in Hong Kong, enabling real-time, always-on HKD and USD payments for corporate treasury management. This marks the first bank-led, blockchain-based settlement service in the region, following a successful pilot on Ant’s Whale platform.
The collaboration allows corporate clients to conduct instant fund transfers between digital wallets held at HSBC Hong Kong. As the inaugural user of the service, Ant International executed an intra-group transfer by digitising USD deposits into blockchain-based tokens on HSBC’s secure distributed ledger.
Developed by Ant International’s Embedded Finance unit, the Whale platform leverages blockchain, advanced encryption, and AI to streamline global treasury operations. In 2024, over a third of Ant International’s transactions were processed on-chain via Whale, which also supports cross-chain interoperability with tokenised assets from leading global institutions.
The partnership builds on Ant’s longstanding relationship with HSBC, including a 2024 cross-bank sandbox experiment under the Hong Kong Monetary Authority’s Ensemble initiative.
Kelvin Li, General Manager of Platform Tech at Ant International, said: “Tokenisation bridges the stability of traditional banking with blockchain efficiency. As a tech connector, we’re expanding partnerships to advance AI-driven liquidity solutions and deliver more transparent, accessible treasury management globally.”
The move underscores Ant International’s commitment to blockchain innovation, enhancing payment and treasury efficiency for businesses worldwide.