Standard Chartered and Ant International have successfully completed HKD-denominated intra-group transactions using blockchain technology. This marks the first time Standard Chartered has conducted such transactions with Ant International, utilizing its Whale platform. The platform is designed to enhance fund movement efficiency and transparency through blockchain, encryption, and artificial intelligence.
The collaboration is part of Standard Chartered's commitment to integrating innovative solutions into its payment systems. Both companies are involved in the Hong Kong Monetary Authority’s Ensemble Sandbox, a project exploring tokenized money settlement through wholesale central bank digital currency (wCBDC).
Anthony Lin from Standard Chartered highlighted the importance of adopting new technologies to reduce working capital costs for corporate clients. Mahesh Kini emphasized the need for banking partners to provide better access and control over working capital in a rapidly transforming financial landscape.
Kelvin Li from Ant International expressed pride in the collaboration's milestone achievement, noting its potential impact on global liquidity management.
Standard Chartered continues to engage in various pioneering projects alongside Project Ensemble, aiming to shape future financial infrastructures through innovation.