HSBC expands its Blockchain treasury services to Singapore with Ant International

2025-10-10 03:53:33

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HSBC has just launched the Crypto Deposit Service in Singapore, marking its first cross-border expansion after the launch in Hong Kong. Ant International has become the first customer to conduct real-time SGD and USD digital token transactions between corporate wallets at HSBC Singapore.

The service uses distributed ledger technology (DLT) to transform traditional deposits into digital tokens, enabling programmable payments and instant payments 24/7, helping businesses manage their treasury more effectively without being limited by banking hours.

HSBC stated that the platform has supported SGD, USD, GBP, and EUR, and will expand into other markets. According to the bank, crypto deposits offer the advantages of blockchain while still maintaining regulation and traditional deposit insurance, and act as a bridge between CBDC, stablecoins, and the traditional financial system.

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