Eversheds Sutherland Advised HSBC On Launch Of Hong Kong’s First Bank-Led Tokenized Deposit Service

Eversheds Sutherland Advised HSBC on Launch of Hong Kong’s First Bank-Led Tokenized Deposit Service

Eversheds Sutherland advised HSBC on the launch of its Tokenized Deposit Service for corporate clients in Hong Kong, marking the city’s first bank-led, blockchain-based settlement service.

Using HSBC’s proprietary technology, the service enables real-time fund transfers in HKD and USD, setting a new benchmark in corporate treasury management and demonstrating HSBC’s advancing digital money capabilities. The initiative represents a major leap forward in the adoption of tokenized banking products and reinforces Hong Kong’s position as a global hub for financial innovation.

The transaction was led by Rhys McWhirter (Partner), with key support from Frankie Tam (Partner) and Kenny Tam (Senior Associate).

Commenting on the matter, Rhys McWhirter said,

“We are proud to have worked with HSBC on this groundbreaking transaction. This project is not only a landmark for HSBC but also a bold step forward in positioning Hong Kong as a global leader in tokenization. It was a privilege to support HSBC in launching such a transformative initiative. Congratulations to the HSBC team for delivering a truly pioneering achievement.”

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