Ant International is partnering with HSBC on the lender's new Tokenised Deposit Service in Hong Kong, bringing in support treasury management with real-time, always-on HKD and USD payments between corporate wallets held by a corporate client at HSBC Hong Kong.
The service, which is the first bank-led, blockchain-based settlement service in Hong Kong, features the Whale platform, which is a next-generation treasury management solution utilising blockchain technology such as advanced encryption and AI to improve the efficiency and transparency of funds transfer between Ant International’s intragroup entities for real-time global treasury management.
The Whale platform currently supports multiple tokenised assets from banks and institutions around the world, allowing interoperability across diverse blockchain networks.
Further, the Whale platform encrypts transaction information and enables multi-party verification in an encrypted state by leveraging leading DLT technologies such as homomorphic encryption and zero-knowledge proofs, to ensure secure, confidential, and seamless cross-chain transactions.
The launch comes following a successful pilot test between HSBC and Ant International on Ant’s Whale platform, which has been rolling out blockchain-based payments and tokenised deposits solutions with various bank partners.
