Standard Chartered Hong Kong and others have completed the tokenized deposit proof-of-concept test through the Hong Kong Monetary Authority's regulat
Standard Chartered Hong Kong announced that it has completed proof-of-concept testing for tokenized deposits and tokenized carbon credits with virtual bank Mox, Mastercard, and Libeara through the Hong Kong Monetary Authority's regulatory sandbox. The main focus was to explore the advantages of using tokenized deposits as a settlement tool for tokenized assets in terms of operational processes and risk management. It is reported that this test is the first test scenario for Mastercard's Multi-Token Network, which tokenizes Mox customers' bank deposits and exchanges the two tokenized assets atomically. This transaction process enables real-time and transparent settlement between Standard Chartered Hong Kong and Mox, while allowing customers to store tokenized carbon credits in their e-wallets or offset their carbon footprint.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Japanese Firm Metaplanet Expands Bitcoin Holdings with $11M Bond Issuance
BREAKING: MicroStrategy Buys $4.6 Billion in Bitcoin
How Has Nvidia Performed Compared to Bitcoin in the Last 5 Years?
Will Cardano Face Another Drop Before Year-End?