The Hong Kong Monetary Authority and the Securities and Futures Commission held an industry seminar on commercial uses of tokenised deposits and authorised investment products. Discussions followed Ensemble TX’s expansion to 24/7 interbank settlement and the SFC’s approval of secondary trading in tokenised money market funds around the clock. Further work will focus on scaling transactions and using tokenised deposits to settle a broader range of tokenised investment products.
Policy & regulationImplementation, projects & pilotsTokenizationBlockchain and distributed ledger technology
The Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) co-hosted a seminar on 11 November focused on commercial applications of Project Ensemble and tokenised investment products authorised by the SFC. Banks and other industry participants shared practical tokenisation experience with approximately 200 attendees, with discussions addressing how to connect investment products, digital money and financial infrastructure.
The seminar followed the 2 November expansion of Ensemble TX, Project Ensemble’s pilot phase, to enable 24/7 interbank settlement of tokenised deposits in tokenised central bank money. Alongside the SFC’s approval of secondary trading in tokenised money market funds around the clock, this capability supports the integration of tokenised deposits with investment products for real-time investment. Project Ensemble aims to increase the scale of transactions through additional tokenisation use cases. Further work will focus on broadening the commercial use of tokenised deposits to settle different types of tokenised investment products.
The Hong Kong Monetary Authority has enabled 24/7 interbank settlement of tokenised deposits in tokenised central bank money under Ensemble TX. This extends the pilot beyond its initial use of the Hong Kong dollar Real Time Gross Settlement system. Participation has grown to 12 banks and 20 industry pioneers.
The Hong Kong Monetary Authority has launched Project SAGE for agentic finance governance and a post-quantum cryptography toolkit under Fintech 2030. Ensemble TX now supports 24/7 real-value transactions, while completed trials of tokenised Exchange Fund Bills will be followed by trials involving regulated stablecoins. A Faster Payment System…
The Hong Kong Monetary Authority, Shanghai Data Bureau, and National Technology Innovation Center for Blockchain signed a Memorandum of Understanding to enhance digital technology in cargo trade and finance. The agreement includes joint research and developing a cross-border platform under Project Ensemble, focusing on electronic bills of lading…