HSBC has expanded its Tokenised Deposit Service (TDS) to Singapore, marking the primary cross-border use of its blockchain-based treasury resolution following its preliminary launch in Hong Kong.
The service permits 24/7 on the spot settlement and was first adopted by Ant Worldwide, which grew to become the primary consumer to finish real-time SGD and USD digital token funds between its entities’ company wallets held with HSBC Singapore.
In September, HSBC additionally processed its first USD cross-border digital token transaction between Ant Worldwide’s entities in Hong Kong and Singapore.
Lewis Solar, International Head of Home and Rising Funds, International Funds Options, HSBC mentioned,
“That is one other milestone for HSBC as we deliver our Tokenised Deposit Service to Singapore. Finance and treasury groups need their techniques to function in actual time, even when persons are offline, and this service helps make {that a} actuality.
As digital cash continues to evolve, interoperability throughout CBDCs¹, tokenised deposits and stablecoins can be essential, and we’re centered on delivering sensible options that assist companies regionally and globally.”
Developed primarily based on buyer insights for digital options that assist companies optimise treasury administration amid market volatility, TDS makes use of distributed ledger know-how to characterize conventional deposits as digital tokens.
This enables customised, programmable transfers immediately from purchasers’ techniques with out conventional banking cut-off instances, supporting sooner and extra clear liquidity administration.
Winnie Yap, Head of International Funds Options, HSBC Singapore, mentioned,
“Shoppers in Singapore are accelerating their shift in direction of digital treasury fashions. With tokenised deposits, they achieve better management and certainty in managing cross-border money flows, whereas unlocking new efficiencies of their operations.
This growth displays each our dedication to co-developing progressive options with purchasers and Singapore’s place as a worldwide hub for treasury innovation.”
TDS additionally helps conditional, programmable funds and the settlement of tokenised belongings, permitting atomic and environment friendly settlement whereas enhancing visibility and management throughout treasury operations.
The service is obtainable for home funds in SGD and USD and has already been prolonged to different markets together with the UK and Luxembourg, supporting home funds in GBP and EUR.
In 2023, HSBC piloted a blockchain-based workflow and set off fee resolution for Property Enterprises Builders, a member of the CK Asset Group, laying the groundwork for broader adoption of digital treasury options.
TDS was most lately showcased on the 2025 HSBC Worldwide Day held in Singapore on 9 October 2025.
HSBC plans to additional scale the service throughout its key markets, enabling extra purchasers to learn from treasury architectures that supply better real-time visibility, fee agility and threat management.
Featured picture: Edited by Fintech Information Singapore, primarily based on photos by AdilMehmood and EyeEm by way of Freepik
