Hong Kong HSBC and Ant Group test deposit token in sandbox

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Ant Group and Hong Kong HSBC test deposit token in sandbox
Banking giant Hong Kong and Shanghai Banking Corporation (HSBC) have teamed up with Jack Ma-based major Chinese financial services provider Ant Group to test the use of token deposits in a sandbox arranged by the Hong Kong Monetary Authority (HKMA).

Led by these banking institutions, this initiative aims to enable always-on and real-time treasury fund movement between accounts held by a corporation within the HSBC network, thereby unlocking the potential of deposit tokenization.