According to Odaily Planet Daily, Standard Chartered Hong Kong has completed a proof-of-concept test of tokenized deposits and tokenized carbon credits with virtual banks Mox, Mastercard and Libeara. The test was conducted through the Hong Kong Monetary Authority's regulatory sandbox. The test mainly explores the advantages of tokenized deposits as a tokenized asset settlement tool in terms of operational processes and risk management. This is the first test scenario of Mastercard's Multi-Token Network, which tokenizes Mox customers' bank deposits and atomically swaps two tokenized assets. This transaction process enables real-time and transparent settlement between Standard Chartered Hong Kong and Mox, while allowing customers to store tokenized carbon credits in e-wallets or offset their carbon footprint.