HSBC, Ant Put Tokenized Deposits to Work in AI Agent Payment Test on Jovay

HSBC and Ant Digital tested AI agent micropayments using tokenized bank deposits on Jovay, exploring automated payments and real-time blockchain settlement.

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Sneha Agrawal

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Expertise : Markets, Law, Politics, Commodities, Crypto, Forex

With over four years of experience in covering and tracking the financial markets, Sneha Agrawal is a dedicated Crypto Journalist and Editor with passion for researching and writing the crypto pieces. She is currently leading the Block of Fame, here at CoinGape. She likes to keep track of political, legal and financial happenings all around the world - without which she deems her day incomplete. Apart from her Journalistic endeavours, she is a solo traveler, museum goer, and a keen reader of books.

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HSBC, Ant Put Tokenized Deposits to Work in AI Agent Payment Test on Jovay (1)

In a major push by the tradfi leaders into AI-driven payments, HSBC and Ant Digital Technologies have announced completing a technical test exploring how AI agents could pay for digital services using tokenized bank deposits.

The test combined HSBC’s Tokenised Deposit Service (TDS) with Ant Digital’s Jovay Layer 2 blockchain testnet and Anvita Flow network. The setup allowed AI agents to discover digital services, interact with them and coordinate micropayments through an automated process.

What is the HSBC Ant Agentic Test About

The test explored micropayments, generally defined as transactions worth less than $2, with real-time settlement.

It examined how AI agents could discover digital services, execute service requests and coordinate payments through an automated transaction flow. HSBC provided the banking and settlement infrastructure, including real-time risk checks through its Model Context Protocol (MCP) interface. Jovay served as the blockchain environment for transactions, while Anvita Flow connected AI agents with digital services and helped coordinate payments.

Ant Digital’s Anvita Flow network connected the service discovery and execution process with micropayment settlement. It demonstrated a potential framework for AI agents to interact with digital services and initiate payments using tokenized deposits.

Tokenized Deposits Enter AI-Driven Payment Workflows

The verification brings tokenized deposits into an emerging payment model in which AI agents can independently coordinate service access and transactions on behalf of users. It for the first time combined blockchain infrastructure with HSBC’s banking and risk-control capabilities.

The transactions involved micropayments, that is payments below $2, with the companies reporting real-time settlement during the test.

For financial institutions, the use case can help in connecting autonomous software with existing banking infrastructure. AI agents could potentially pay for digital services as they are accessed, while tokenized deposits could provide the underlying payment instrument. However, the test does not establish whether the model is commercially viable or ready for deployment at scale.

It also comes at a time when the volume of agentic payments is growing significantly. Coinbase- and Cloudflare-incubated x402 protocol had processed approximately $15 million in adjusted payment volume across 109.6 million transactions since its launch in May 2025. Meanwhile, the Machine Payments Protocol (MPP), developed by Stripe and Tempo with contributions from Visa, settled around $25,000. It has made approximately 115,000 transactions in its first few weeks after launching in March 2026.

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