Mastercard, in collaboration with Standard Chartered Bank Hong Kong (SCBHK) and subsidiaries, has successfully conducted the first live test of the Mastercard Multi-Token Network (MTN).

This test involved tokenised deposits and assets, executed within the Hong Kong Fintech Supervisory Sandbox.

A client of Standard Chartered’s Hong Kong digital bank, Mox Bank, purchased a carbon credit, which was then tokenised by SCBHK using Libeara, a tokenisation platform.

The Mastercard MTN facilitated the tokenisation of the deposit and the atomic swap between the tokenised deposit and the carbon credit, demonstrating real-world applications for reshaping consumer and business transactions.

The CEO of Standard Chartered Hong Kong, Mary Huen, addressed the collaboration's goal of accelerating the adoption of tokenisation in financial assets, recognising the tokenisation's importance in the financial industry's future.