Ant International pilots HSBC tokenised deposits in the Middle East

Ant International has expanded its collaboration with HSBC to support real-time treasury management in the Middle East using HSBC's global Tokenised Deposit Service. According to the announcement, Ant International is the first HSBC client in the region to use the service.

The companies have completed pilot transactions across two payment corridors linking the UAE with international markets. The tests focused on real-time settlement using tokenised deposits denominated in AED and USD.

Pilots cover domestic and cross-border tokenised deposit transfers

The first pilot involved real-time AED-denominated tokenised deposit transfers within the UAE. The second covered USD-denominated transfers initiated from the UAE to international markets, including Hong Kong and Singapore.

The transactions were initiated through WhaleRTP, Ant International's proprietary blockchain-based treasury platform, and executed in real time through HSBC's Tokenised Deposit Service. The transaction workflow was jointly designed by the two companies.

WhaleRTP expands its treasury network into the Middle East

Ant International has used blockchain and tokenised deposit technologies since 2019 to support real-time treasury operations across financial centres including Hong Kong, Singapore, Europe and the US. WhaleRTP is currently supported by more than 20 global banks, including HSBC.

The platform supports real-time transfers in more than 17 currencies, including USD, HKD and AED. The Middle East pilot extends the geographic reach of the network and connects regional operations with existing treasury activity in Asia.

HSBC Tokenised Deposit Service is live in six markets

HSBC's Tokenised Deposit Service is available in Hong Kong, Singapore, Luxembourg, the UK, the US and the UAE. It supports several currencies, including CNH, HKD, SGD, EUR, GBP, USD and AED.

The service provides clients with 24/7 access to liquidity across HSBC's network while allowing them to continue using the bank's existing infrastructure and controls. HSBC said interoperability between tokenised deposit networks can help corporate clients move liquidity across markets and financial institutions while improving cash visibility.

Ant International links treasury infrastructure with regional expansion

Ant International said the Middle East expansion will support the regional growth of its businesses, including Alipay+, Antom and WorldFirst. These operations serve merchants, enterprises and travellers through payment, cross-border and financial services.

The company said the pilots represent another step toward real-time treasury management across its global operations. With support from regional banking partners such as HSBC, Ant International plans to establish a global treasury hub in the Middle East.

Pilots test interoperability between bank and corporate blockchain infrastructure

For HSBC, the project expands the client base for its Tokenised Deposit Service in the Middle East and tests interoperability with a customer's own blockchain-based treasury platform. For Ant International, the UAE corridors connect regional treasury activity with existing operations in Hong Kong and Singapore.

The pilots use USD and AED tokenised deposits settled in real time, combining HSBC's banking infrastructure with Ant International's WhaleRTP platform.