Asset Management
What’s New In Investments, Funds? – HSBC, Tokenised Deposit Service
The latest news in investment offerings, financial products and other services relevant to wealth advisors and their clients.
HSBC
HSBC yesterday said it
has introduced its Tokenised Deposit Service (TDS) in Singapore,
extending the blockchain-based payment capability beyond its
initial launch in Hong Kong.
The service enables 24/7 real-time instant settlement. It was adopted by China’s Ant International, which became the first client to complete real-time Singapore dollar and US dollar digital token payments between its entities’ corporate wallets held with HSBC Singapore.
In September, HSBC said it successfully completed its first US dollar cross-border digital token transaction for Ant International businesses in Hong Kong and Singapore.