All notes

Cross-border • Apr 13, 2026

HSBC adds the United States to its tokenized-deposit network

HSBC has launched its Tokenized Deposit Service in the United States, extending a live commercial-bank-money treasury rail from four to five markets while leaving client scale and routine tokenized-asset settlement unproved.

Global • Apr 5, 2026

Why did global post-trade tokenization cluster in Q1 2026 -- and is this finally structural?

Why major post-trade institutions tokenized simultaneously in Q1 2026

Malaysia • Mar 30, 2026

Maybank's first on-chain MYR-SGD payment gives Malaysia its clearest tokenised-deposit operating proof yet

Maybank's first executed MYR-SGD tokenised-deposit payment with Yinson changes the read-through on Malaysia's bank-money settlement stack.

Cambodia • Mar 28, 2026

Cambodia’s Bakong large-value rail comes into view

NBC’s 2025 Financial Stability Review discloses a USD 50,000 Bakong Large Value Payment threshold and dedicated metrics, while leaving route share and participant detail unresolved.

Malaysia • Feb 11, 2026

Maybank's ringgit tokenised-deposit pilot turns Malaysia's digital-money debate into a named wholesale test

Maybank's February 11, 2026 ringgit tokenised-deposit pilot under BNM's DAIH, framed as a supervised wholesale cross-border payments test rather than a generic blockchain announcement.

Cambodia • Jan 9, 2026

ACLEDA Bank’s Ministry of Commerce launch signals deeper workflow integration in Cambodia public-service collections

ACLEDA Bank’s January 2026 Ministry of Commerce launch suggests a deeper role in Cambodia public-service collections and workflow-linked bank rails.

Singapore • Dec 3, 2025

Monetary Authority of Singapore turns BLOOM into the settlement leg of Project Guardian

MAS’s 3 December 2025 BLOOM speech and the shift from asset tokenisation to supervised settlement-asset infrastructure.

Singapore • Nov 11, 2025

DBS and Kinexys make interbank tokenized deposits Singapore's next operating test

Why DBS's November 2025 Kinexys announcement matters as a cross-bank tokenized-deposit interoperability signal, not just another bank-tokenization release.

Cambodia • Sep 25, 2025

National Bank of Cambodia's Bakong scale now reads as settlement infrastructure

How the National Bank of Cambodia's September 2025 Bakong scale disclosure reframes Cambodia as national settlement infrastructure for institutional readers.

United Arab Emirates • Jul 31, 2025

Central Bank of the UAE turns the Digital Dirham into a launch-adjacent settlement signal

How CBUAE's July 2025 Digital Dirham package changes the market read from CBDC exploration to disclosed operating design.

Cambodia • Jun 26, 2025

ABA Bank’s ABA Business launch surfaces the control stack behind corporate money movement

ABA Bank’s June 2025 ABA Business rollout in Cambodia exposed approval tiers, ERP-linked Host-to-Host instructions, virtual-account receivables separation, and reconciliation controls relevant to bank-led treasury operations.