Standard Chartered Launches Blockchain-based Tokenised Deposits Solution in SGD and USD

Published: December 18, 2025

Following the successful completion of its pilot SGD-denominated liquidity transfers for Ant International, Standard Chartered today announced that it has introduced a tokenised SGD and USD account balances solution for Ant International on the latter’s blockchain-based real-time global treasury management platform, the Whale platform.

This use case builds on the learnings from the Monetary Authority of Singapore’s (MAS) Guardian initiative which aims to enhance liquidity and efficiency of financial markets through tokenisation. The solution was co-created with Ant International who has been the Bank’s long-standing partner in tokenisation initiatives on the blockchain. This solution allows Ant International to future-proof their treasury and shift to real-time 24/7 movement of value in SGD and USD.

This also marks the latest milestone in Standard Chartered’s tokenisation journey. It aims to set the blueprint for commercial banks to facilitate movement of funds from a traditional commercial bank ledger to the blockchain and demonstrates how companies can benefit from the inherent immutability, speed and efficiency of distributed ledger technology.

“As corporates and institutions increasingly rely on ‘just in time’ liquidity, demand for real time and 24/7 treasury management is rapidly accelerating,” said Mahesh Kini, Global Head of Cash Management, at Standard Chartered. “Driven by a shared vision of shaping the future of cash management, we are pleased to collaborate with Ant international from the conceptualisation towards the commercial launch of this solution. This is part of our continued efforts to continuously innovate our solutions and offer our clients seamless and safe access to blockchain-based cash management and investment solutions.”

“We are delighted to continue partnering with Standard Chartered on blockchain innovations that serve the cross-border payment needs of businesses of all sizes. By combining Standard Chartered’s deep banking capabilities with Ant International’s expertise in tokenisation and global payments, the new solution enhances our liquidity management by providing seamless and secure access to the working capital needs of our businesses globally,” said Kelvin Li, General Manager of Platform Tech at Ant International.

The tokenised deposit solution enables effective and efficient intra-group deployment of liquidity for Ant International and its entities. The integration of Ant International’s bank accounts held with Standard Chartered with tokenised deposits ensure seamless and near real-time flow of liquidity between the various entities and leading to enhancements in the management of Ant International’s treasury and working capital. The solution includes capabilities for transactions in SGD and USD in Singapore, and HKD, CNH and USD in Hong Kong, making it easier for users in different markets to transact and settle with the currencies they already work with. This innovative workflow is especially beneficial for global companies that transact across borders and need instant and 24/7 liquidity management.

Commenting on Standard Chartered’s commitment to innovation and tokenisation initiatives in Singapore, Ankur Kanwar, Head of Transaction Banking Singapore and ASEAN, Standard Chartered said: “This is a significant step forward in our journey to support Singapore's growth as a leading digital finance hub. Tokenised deposits have the potential to enhance settlement efficiency, enable new financial use cases, and deliver real-world benefits to clients. This partnership underscores our efforts to scale asset tokenisation and shape the future of our industry in Singapore and across our markets.”

In Singapore, both Standard Chartered and Ant International are part of Guardian, an initiative convened by MAS, to collaborate between global policymakers and the financial industry to enhance liquidity and efficiency of financial markets through asset tokenisation.