<ul><li>HSBC has launched Hong Kong's first settlement service using blockchain technology, allowing companies to convert bank deposits into digital tokens for faster and cheaper transactions.</li><li>The tokenized deposit program enables firms to exchange regular deposits for tokens on a blockchain platform, providing real-time tracking of payments and eliminating extra fees and delays.</li><li>The service operates 24/7, allowing corporate clients to transfer Hong Kong dollars and US dollars between HSBC Hong Kong wallets at any time, unlike traditional banking where transfers often halt overnight or on weekends.</li><li>HSBC's blockchain settlement system, piloted with Ant International, aims to offer transparent and efficient treasury services, with plans to expand the service to Asian and European markets by the end of 2025.</li></ul>

Hong Kong Taps Blockchain: Europe’s Biggest Bank Rolls Out Settlement Service

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