HSBC has used tokenised deposits to invest in a tokenised money market fund for the first time, working with Ant International and Franklin Templeton.
The transaction linked HSBC’s Tokenised Deposit Service to Ant International’s blockchain-based settlement platform, WhaleRTP.
It also involved Franklin Templeton’s tokenised money market fund.
The integration could help companies and financial institutions manage surplus cash and access funds outside traditional banking hours.
Martijn Stoker, Global Head of GPS Liquidity at HSBC, said,
“The solution helps clients to optimise liquidity by investing surplus funds when available and accessing them when needed, with the potential for around-the-clock transactions enabled by the benefits of tokenisation.”
Matt Jones, Head of Liquidity Distribution at Franklin Templeton, added the collaboration showed how digital deposits and investment products could work together to meet institutional needs.
Kelvin Li, General Manager of Platform Tech and Senior Vice President at Ant International, said,
“We are pleased to be working with leading institutions to enable seamless interoperability between tokenised deposits and tokenised money market funds through WhaleRTP.
The result is real-time, 24/7 global liquidity management, helping treasury teams identify new revenue opportunities.”
Featured image: Edited by Fintech News Singapore, based on image by tigger11th via Magnific
