HSBC has launched its Tokenised Deposit Service in the UAE, enhancing its digital money infrastructure to facilitate real-time treasury management for corporate clients. This innovative service enables eligible institutional businesses to conduct domestic and cross-border fund transfers around the clock through blockchain technology. By integrating the UAE dirham into a digital asset network that already accommodates major global currencies, HSBC is positioning itself at the forefront of the evolving financial landscape. Mohamed Al Marzooqi, CEO of HSBC Bank Middle East, emphasized the significance of this launch, noting the strong demand among local corporations for advanced treasury tools. The service is designed to enhance visibility into cash positions and streamline working capital management, ultimately reducing manual processing and enabling straight-through processing for institutional operations. Currently, the service is accessible to qualifying corporate and institutional clients in the UAE, pending regulatory approvals and specific onboarding requirements.
Source: Fintech News ME
