Mastercard and Standard Chartered Bank Hong Kong (SCBHK) have successfully completed their first live experiment on the execution of tokenized deposits using the Mastercard Multi-Token Network (MTN).
This initiative tested how blockchain technology could be used in the banking sector. It was done under the supervision of the Hong Kong Fintech Supervisory Sandbox.
Mastercard Multi-Token Network in Action
The research was carried out on a Mox Bank client, a digital bank under Standard Chartered, who bought a carbon credit. Mox Bank asked SCBHK to tokenize this asset, and that was done through the use of Libeara, a tokenization platform developed by SC Ventures, Standard Chartered’s innovation arm. 
The transaction was carried out via Mastercard’s MTN, which resulted in an atomic swap between the tokenized deposit and the carbon credit. Hence, the client received the tokenized asset in their digital wallet.
Mastercard executes first tokenized deposit transactions with StanChart subs

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