Visa partners with HSBC and Hang Seng Bank to pilot tokenized deposits

Visa, HSBC, and Hang Seng Bank have conducted experiments on tokenized deposits in the e-HKD pilot program in Hong Kong. The experiment covers two major use cases: real estate transaction settlement and Visa card payments. Visa pointed out that tokenized deposits can not only improve settlement efficiency but also innovate new business applications.

Vincent Lau of HSBC stated that the benefits of achieving tokenized deposits require further development of interoperability between different banks. The experiment showed that tokenized deposits can improve business efficiency and transparency through simplified processes, reduced manual verification, and almost real-time settlement time, while Blockchain technology also enhances data transparency.

Despite the challenges of regulatory evolution and infrastructure construction, Visa and HSBC are optimistic about the actual effects of tokenized deposits. This progress demonstrates Hong Kong's positive attitude towards exploring and promoting new financial technologies, especially in the application of CBDC and interbank settlement.