- Hong Kong’s HKMA launched a 24/7 interbank blockchain settlement system using tokenized deposits
- 12 banks participated in the initial rollout, with Standard Chartered executing the first live transaction
- The system enables real-time settlement without reliance on traditional clearing windows or business hours
- Hong Kong is running concurrent stablecoin trials alongside the tokenized deposit settlement framework
HKMA’s 24/7 Settlement System Goes Live
Following the official launch of 24/7 interbank settlement system based on blockchain technology, the Hong Kong Monetary Authority is using tokenised deposits for real-time settlement during any time outside of traditional banking hours.
Standard Chartered Leads First Live Transaction
Standard Chartered executed the first live settlement transaction under the new framework, demonstrating the system’s operational readiness.
We’ve announced the launch of our Tokenised Deposits solution in Hong Kong, the first market in the Group to offer the solution.
The solution enables corporate treasurers, banks, investment platforms and digital asset businesses to use commercial bank deposits within digital treasury and investment workflows.
Built on our proprietary blockchain infrastructure, it combines the trust of regulated bank deposits with the programmability of tokenised assets, helping clients enhance efficiency, interoperability and settlement predictability while reducing counterparty risk.
This is the first step in our ambition to expand the solution to additional markets.
Read the full announcement: https://t.co/AhWDHZA7a6
— Standard Chartered (@StanChart) November 2, 2026
The bank has been a prominent participant in Hong Kong’s digital currency and tokenization initiatives, and its role in this launch reflects its strategic positioning in wholesale blockchain finance.
12 Banks In Initial Rollout
Twelve financial institutions have joined the initial phase of the tokenized deposit settlement system. The participation of 12 banks at launch represents a substantial portion of Hong Kong’s interbank settlement ecosystem and is seen as validation of the technology’s readiness for institutional use at scale.
Concurrent Stablecoin Trials Underway
Hong Kong is also running stablecoin sandbox experiments to explore how they can be used in both retail and wholesale payments. This, coupled with using tokenised deposits in the wholesale space means Hong Kong is one of the most active jurisdictions in building next generation digital financial infrastructure.
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