Recently saw an interesting collaboration case. Standard Chartered Bank Hong Kong and Ant International joined forces to carry out a tokenization transformation of multi-currency accounts, successfully bringing the three mainstream settlement currencies of Hong Kong Dollar, Renminbi, and US Dollar onto the blockchain under the regulatory framework of the Hong Kong Monetary Authority.

To be honest, this is not their first collaboration. As early as last year, there was a blockchain test with Hong Kong dollar settlement, which was still a single currency trial, mainly to verify the technical feasibility. This time, it has been directly upgraded to a three-currency scaled application, which is quite a leap, from small-scale exploration to a true production-level application, it can be described as a qualitative leap.

The core technical solution is jointly developed by both parties, based on Ant International's self-developed Blockchain financial asset management platform. Using Blockchain for cross-border Settlement and financial asset management has the greatest benefits of efficiency and transparency—funds flow faster, and all parties can see the transaction status in real-time. Especially in scenarios involving multiple currencies, traditional methods require layers of approval, whereas now it can be settled in seconds directly on the chain.

It is worth noting that this is done within the regulatory sandbox framework of the Hong Kong Monetary Authority, indicating the regulatory body's recognition of the use of distributed ledger technology in core financial operations. This transition, from pure digital asset trading to the transformation of internal financial processes of traditional financial institutions, is quite significant — it shows that Blockchain has gradually moved from marginal innovation to the core business of mainstream finance.