HSBC, Ant International Expand Tokenized Deposit Services in Middle East

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HSBC (HSBC) and Ant International expanded their collaboration to improve real-time treasury management services in the Middle East, the companies said Tuesday.

The companies completed pilot transactions across payment corridors between the United Arab Emirates and Hong Kong, including real-time dirham transfers within the UAE and US dollar payments from the UAE to international markets.

The transactions were initiated through Ant International's blockchain-based WhaleRTP platform and executed in real time through HSBC's Tokenised Deposit Service, the companies said.

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