HSBC’s Global Payments Solutions business completed a pilot of tokenized deposit services on the regulated public blockchain, Canton Network, simulating the full lifecycle of tokenized deposit issuance, transfer, and atomic settlement with other digital assets. This marks HSBC’s first issuance and use of tokenized deposits on a public blockchain, enabling 1:1 fiat conversion for major currencies including USD, GBP, EUR, HKD, and SGD, with real-time settlement available 24/7. Manish Kohli, Head of Global Payments Solutions at HSBC, stated that this pilot demonstrates the evolution of tokenization in banking and the required infrastructure. Yuval Rooz, Co-Founder of Canton Network, noted that tokenized deposits are accelerating adoption across areas such as capital markets.
HSBC Completes Tokenized Deposit Pilot, Enabling Real-Time Multi-Currency Settlement
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HSBC Completes Tokenized Deposit Pilot, Enabling Real-Time Multi-Currency Settlement and On-Chain News
As reported by AiCoin, HSBC’s Global Payment Solutions division has completed a pilot for tokenized deposit services on the regulated public blockchain, Canton Network. The pilot simulated the full lifecycle of issuing, transferring, and atomically settling tokenized deposits alongside other digital assets, marking HSBC’s first issuance and utilization of tokenized deposits on a public blockchain. These deposits support USD, GBP, EUR, HKD, SGD, and other major currencies with 1:1 fiat backing and 24/7 real-time settlement. Manish Kohli, Head of HSBC Global Payment Solutions, stated that the pilot demonstrated the evolution of tokenization in banking and the necessary infrastructure. Yuval Rooz, co-founder of Canton Network, noted that tokenized deposits are accelerating adoption in capital markets and beyond, aligning with the growing momentum around real-world assets (RWA).
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