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In November 2020, Standard Chartered participated in the first phase of the connection project between the Hong Kong Trade Finance Platform and the trade finance blockchain platform in mainland China. It was one of the seven banks involved in the pilot transactions. Standard Chartered subsequently announced that it had completed the first batch of cross-blockchain pilot transactions through this platform, facilitating successful transactions between Hong Kong corporate clients and mainland Chinese suppliers using the trade finance platform, with the relevant suppliers completing their transactions on the trade finance blockchain platform.
Following this, at the Greater Bay Area Innovation Economy Summit, Ms. Xie Wen, Deputy CEO of Standard Chartered Bank (China) Limited, mentioned that the bank had participated in some digital currency pilot projects. For instance, recently, Standard Chartered Bank collaborated with the Hong Kong Monetary Authority and a Thai bank to use central bank digital currency for real-time point-to-point electronic transfers and forex transactions between banks in Hong Kong and Thailand.
In August 2021, Standard Chartered Bank announced a joint venture with the fintech company Lianyirong (HKG: 9959) to launch the blockchain trade finance platform Olea. The platform aims to connect institutional investors with enterprises in need of supply chain financing using blockchain and artificial intelligence technology.
In November 2022, the Monetary Authority of Singapore (MAS) shared the results of its Project Guardian's first pilot project, which focused on exploring DeFi and tokenization. MAS also announced two additional pilot projects, one in trade finance and the other in wealth management. Standard Chartered Bank is leading the first pilot project, exploring the tokenization of trade finance assets. |
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Post time 24-10-2023 13:07:34