HSBC rolls out cross-border tokenised deposit service

TDS has completed its first USD cross-border transaction between Hong Kong and Singapore.

HSBC has expanded its tokenised deposit service (TDS) to support cross-border transactions.

The megabank said that TDS completed its first USD cross-border transaction between Hong Kong and Singapore, to optimise the treasury management of payments service giant Ant International.

HSBC has also rolled out the service to the UK and Luxembourg markets, supporting domestic payments in additional currencies such as GBP, EUR, and USD.

HSBC said that it plans to scale the service to its key markets.

TDS is a blockchain-based solution that promises to enable HSBC’s corporate clients to securely move currencies in real-time with instant 24/7 settlement.

It will be able to support programmability, where conditional payments can be embedded in the transfer of TDS and settlement of tokenised assets, the bank said.

Follow the link for more news on

HSBC

A NOTE FROM SINGAPORE BUSINESS REVIEW

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia