Hong Kong is at the forefront of the world and continues to demonstrate the trend of the future world moving towards tokenization!

Standard Chartered Hong Kong, together with virtual bank Mox, Mastercard and Libeara, has successfully completed the proof-of-concept test of tokenized deposits and tokenized carbon credits through the regulatory sandbox of the Hong Kong Monetary Authority. The test mainly explored the unique advantages of tokenized deposits as a settlement tool for tokenized assets in terms of operational processes and risk management.

Notably, this is the first test scenario of Mastercard's Multi-Token Network, which successfully converted Mox customers' bank deposits into tokens and realized atomic swaps of two tokenized assets.

This transaction process not only enables real-time and transparent settlement between Standard Chartered Hong Kong and Mox, but also allows customers to store tokenized carbon credits in e-wallets or use them to offset their carbon footprint. This marks an important step in Hong Kong's integration of digital currency and carbon markets.