Standard Chartered has introduced a tokenised deposits solution for SGD and USD in Singapore, first adopted by Ant International.

The bank said the launch follows the completion of a pilot involving Singapore dollar liquidity transfers for Ant International and enables real-time treasury movements through Ant International’s blockchain-based Whale platform.

The solution allows tokenised representations of bank deposits to be used while remaining linked to accounts held with Standard Chartered.

The initiative builds on work carried out under the Guardian initiative convened by the Monetary Authority of Singapore to improve liquidity and efficiency in financial markets through asset tokenisation.