HSBC, Ant Digital test AI-agent payments using tokenized deposits
The technical trial showed how AI agents could discover services and make micropayments using HSBC’s tokenized deposits, with real-time settlement and risk checks.
HSBC and Ant Digital Technologies have collaborated on a technical trial that showcased how AI agents could facilitate digital service access and micropayments using HSBC's tokenized deposits. The system, tested on a blockchain testnet, utilized HSBC's Tokenised Deposit Service, Ant Digital's Anvita Flow network for service discovery, and Jovay Testnet for layer-2 blockchain verification.
HSBC provided real-time settlement and risk checks, while Ant Digital coordinated the service and payment processes. The demonstration involved an AI agent choosing a digital service and completing a transaction, defined as a micropayment typically under $2. The trial was purely technical and not a commercial launch or live customer offering.
This move joins other banks exploring AI's potential to initiate financial transactions on customers' behalf, including Santander, Sygnum, and CaixaBank. However, some experts, like Augustus Bank CEO Ferdinand Dabitz, argue that traditional banks must overhaul their outdated systems to accommodate AI-driven, 24/7 financial operations.
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