[HSBC Plans to Launch Tokenized Deposit Services for US and UAE Clients in the First Half of Next Year]
HSBC Holdings Plc plans to introduce tokenized deposit services for corporate clients in the United States and the United Arab Emirates in the first half of next year. Manish Kohli, HSBC's Global Head of Payments Solutions, stated that the service supports real-time domestic and cross-border fund transfers around the clock, unrestricted by business hours, helping large enterprises enhance liquidity management efficiency.
Currently, HSBC's tokenized services cover Hong Kong, Singapore, the United Kingdom, and Luxembourg, supporting transactions in euros, pounds, US dollars, Hong Kong dollars, and Singapore dollars. When launched in the Middle East next year, the service will add support for the UAE dirham. Kohli also revealed that HSBC is exploring the application of tokenized deposits in programmable payments and autonomous treasury systems, as well as studying the stablecoin industry, engaging with certain stablecoin issuers to discuss reserve management and settlement account services.