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 allows 24/7 on the spot settlement and was first adopted by Ant Worldwide, which turned 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, World Head of Home and Rising Funds, World Funds Options, HSBC mentioned,
“That is one other milestone for HSBC as we carry 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 will likely be essential, and we’re targeted on delivering sensible options that assist companies regionally and globally.”
Developed based mostly on buyer insights for digital options that assist companies optimise treasury administration amid market volatility, TDS makes use of distributed ledger expertise to signify conventional deposits as digital tokens.
This enables customised, programmable transfers instantly from purchasers’ techniques with out conventional banking cut-off occasions, supporting quicker and extra clear liquidity administration.
Winnie Yap, Head of World Funds Options, HSBC Singapore, mentioned,
“Shoppers in Singapore are accelerating their shift in the direction of digital treasury fashions. With tokenised deposits, they achieve higher 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 revolutionary options with purchasers and Singapore’s place as a world hub for treasury innovation.”
TDS additionally helps conditional, programmable funds and the settlement of tokenised property, 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 cost 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 not too long ago 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 higher real-time visibility, cost agility and danger management.
Featured picture: Edited by Fintech Information Singapore, based mostly on pictures by AdilMehmood and EyeEm through Freepik
