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Deployments · platform by HSBC

HSBC Tokenised Deposit ServiceUpdated 7 Nov 2026

HSBC turns corporate clients' deposits into tokens on its own ledger so they can move money between their accounts and entities at any hour, domestically and across borders. Launched in Hong Kong in May 2025 with Ant International as first client, it has since spread to Singapore, the UK, Luxembourg, the US and, from June 2026, the UAE, and supports seven currencies.

AnnouncedProof of conceptPilotLive (limited)Live (scaled)

Live (limited) since May 2025[1] — Live for eligible HSBC corporate and institutional clients only; no volumes published. · Reviewed 13d ago

Assets
Bank deposit[4]
Tokenised HSBC deposits in CNH, HKD, SGD, EUR, GBP, USD and AED
Networks
HSBC tokenised deposit ledger Private, permissioned[1]
Use cases
Treasury management[1][4]Domestic payments[5]Cross-border payments[2]
Jurisdictions
Hong Kong, Singapore, United Kingdom, Luxembourg, United States, United Arab Emirates

Participants

  • HSBCPlatform provider, Operator, Issuer[3]United Kingdom
  • Ant InternationalClient or user[4][7]Singapore
  • Eligible HSBC corporate and institutional clients in six markets; only Ant International is named.[3]

Timeline

  1. Happened 6 Oct 2026 · Scope expansion · recorded 11 Oct 2026
    Ant International completes pilot transfers in the UAE (dirham within the UAE and USD to Hong Kong and Singapore), making the UAE the sixth market.[4]
  2. Happened 22 Jun 2026 · Scope expansion · recorded 15 Oct 2026
    HSBC launches the service in the UAE, adding the dirham to the euro, sterling, US dollar, Hong Kong dollar and Singapore dollar deposits it already supports.[6]
  3. Happened 13 Apr 2026 · Scope expansion · recorded 11 Oct 2026
    Service opens to eligible HSBC corporate and institutional clients in the United States.[3]
  4. Happened 13 Nov 2025 · Scope expansion · recorded 15 Oct 2026
    First cross-bank transfer, via the HKMA's EnsembleTX, moving HKD 3.8 million for Ant International to its wallet at another Hong Kong bank.[5]
  5. Happened Sep 2025 (month only) · Scope expansion · recorded 11 Oct 2026
    Adds cross-border transfers; first USD transfer between Hong Kong and Singapore for Ant International.[2]
  6. Happened May 2025 (month only) · Launch · recorded 11 Oct 2026
    Launches in Hong Kong for real-time HKD and USD payments between corporate wallets; Ant International is the first client.[1]
  7. Happened 2025 (year only) · Scope expansion · recorded 11 Oct 2026
    Extended to Singapore, then to the UK and Luxembourg for domestic payments in GBP, EUR and USD.[2]

Sources

  1. [1]Ant International Taps HSBC for First Bank-Led Tokenised Deposit Service in Hong Kong — Crowdfund Insider, May 2025. Accessed 11 Oct 2026.C
  2. [2]HSBC Extends Tokenized Deposit Service to US Firms — PYMNTS, 13 Apr 2026. Accessed 11 Oct 2026.C
  3. [3]HSBC expands Tokenized Deposit Service to the United States — HSBC, 13 Apr 2026. Accessed 11 Oct 2026.B
  4. [4]Ant International and HSBC Expand Real-Time Treasury Management Services to the Middle East — Ant International (via Business Wire), 6 Oct 2026. Accessed 11 Oct 2026.B
  5. [5]HSBC completes first live cross-bank transaction in EnsembleTX — HSBC, 13 Nov 2025. Accessed 15 Oct 2026.B
  6. [6]HSBC Launches Tokenised Deposit Service in the UAE, Connecting Global Liquidity Across Key Financial Markets — HSBC, 22 Jun 2026. Accessed 15 Oct 2026.B
  7. [7]Ant is the first to use HSBC's Tokenised Deposit Service | HSBC — HSBC, 22 Sep 2025. Accessed 7 Nov 2026.B

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