Standard Chartered began offering tokenised deposits to corporate clients in Hong Kong on November 2, making the territory the first of the bank’s 55 markets to get a product that turns commercial bank deposits into transferable on-chain tokens settled around the clock. The mechanism is narrower than the “tokenised money” label suggests, and the narrowness is the point. A corporate treasurer’s deposit stays a Standard Chartered liability; what changes is that it can move between participating banks in real time, with the inter-bank leg settled in central bank money — including wholesale central bank digital currency — at any hour rather than inside a correspondent-banking window. The bank said the design “enhances efficiency, interoperability and settlement predictability, while significantly reducing counterparty risk as value moves between financial institutions.”