Linklaters Advises HSBC on Launch of Cross‑Border Tokenised Deposit Service in Singapore

Linklaters advised The Hongkong and Shanghai Banking Corporation Limited (HSBC) on the launch of its Tokenised Deposit Service (TDS) in Singapore. The service enables 24/7 real-time instant settlement of cross-border transactions between Hong Kong SAR and Singapore, facilitating efficient treasury operations and effective cash-flow management, which is particularly important for managing liquidity in a volatile foreign exchange and interest rate environment. The launch in Singapore follows HSBC's initial rollout in Hong Kong SAR and represents a significant step in the bank’s expansion of blockchain-based payment capabilities across Asia. The service further builds on Singapore’s role as a leading international treasury hub, where corporates are accelerating the adoption of digital treasury models. Linklaters noted the transaction’s significance for the convergence of traditional banking and digital solutions; Peiying Chua commented: “This transaction exemplifies the convergence of traditional banking and cutting-edge digital solutions. We are proud to support our client in delivering a service that not only enhances operational efficiency but also sets a new benchmark for cross-border financial innovation in Asia.” Linklaters represented The Hongkong and Shanghai Banking Corporation Limited (HSBC) with a team composed by: Peiying Chua, Partner, Head of Singapore Financial Regulation and Asia Head of Fintech; Alcander Seah, Associate.

Linklaters Advises HSBC on Launch of Cross‑Border Tokenised Deposit Service in Singapore

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