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Ant International, the global business arm of Ant Group, transferred funds from Shanghai to Hong Kong using the digital yuan and invested them in a local money market fund, local financial outlet JRJ reported on Oct. 16.
According to the report, Ant International sent the digital yuan in real time to Hong Kong via the Shanghai Pudong branch of China Construction Bank, then used a Standard Chartered Hong Kong account to purchase ChinaAMC Hong Kong’s yuan-denominated tokenized money market fund with offshore yuan. The transaction demonstrated that the digital yuan can be used in corporate treasury operations for cross-border transfers between Shanghai and Hong Kong and for investment in offshore yuan assets.