Sibos day 3: A new era for payments

We are proud to announce the launch of our cross-border Tokenised Deposit Service (TDS), a new blockchain-based solution for our clients. This service enables you to securely manage payments between your corporate wallets in real-time with instant settlement, 24/7. It is designed to streamline cross-border remittance and payments, building upon the successful rollout for domestic payments in Hong Kong and Singapore earlier this year. The service has also been extended to the UK and Luxembourg, supporting domestic payments in additional currencies such as GBP, EUR and USD, with plans to scale across HSBC’s key markets.

How it reshapes transaction banking

Our Tokenised Deposit Service uses HSBC’s distributed ledger technology (DLT) to transform the way you move money.

Here’s a quick look at how it works and the benefits it offers:

• Digital conversion: It converts your traditional fiat deposits into digital tokens for immediate use on our secure network
• Instant settlement: Transactions are settled instantly, around the clock. This removes cut-off times and reduces trapped liquidity for your treasury operations
• Automated reconciliation: The process is automated, reducing the manual effort required for reconciliation and minimising the risk of errors
• Secure and transparent: HSBC's in-house DLT is a transparent and secure ledger, giving you visibility across all transactions and live balances for better decision making

As Manish Kohli, our Head of Global Payments Solutions, puts it, "This is about more than digitising deposits - it’s about reshaping the future of transaction banking." This innovation provides a practical and powerful tool for modern treasury management.

Our experts were also busy sharing their knowledge on the future of finance across several sessions today. Here are some of the highlights:

• Manish Kohli Head of Global Payments Solutions at HSBC, highlighted the transformative impact of modernization and generative AI on the payments industry on stage today. He emphasized how integrating real-time processing, cloud technologies, and blockchain is enabling faster, more secure transactions, while AI-driven fraud detection and open banking APIs are enhancing customer experiences and operational efficiency
• Lewis Sun, Head of Domestic and Emerging Payments, Global Payments Solutions at HSBC and Mark Williamson, Global Head of FX & Commodities Partnerships & Propositions, MSS at HSBC explored the transformative power of tokenisation and digital assets in reshaping the financial landscape, with real-world use cases. They also explained how our new Tokenised Deposit Service will support treasury funding movement and digital asset settlement

Stay tuned for our final wrapper tomorrow as we continue to explore the future of finance.

Further insights