Standard Chartered Hong Kong announced that it has completed proof-of-concept testing for tokenized deposits and tokenized carbon credits with virtual bank Mox, Mastercard, and Libeara through the Hong Kong Monetary Authority's regulatory sandbox. The main focus was to explore the advantages of using tokenized deposits as a settlement tool for tokenized assets in terms of operational processes and risk management. It is reported that this test is the first test scenario for Mastercard's Multi-Token Network, which tokenizes Mox customers' bank deposits and exchanges the two tokenized assets atomically. This transaction process enables real-time and transparent settlement between Standard Chartered Hong Kong and Mox, while allowing customers to store tokenized carbon credits in their e-wallets or offset their carbon footprint.