Hong Kong has launched the next phase of Project Ensemble, enabling real-value transactions using tokenized deposits and digital assets.
The Hong Kong Monetary Authority said this marks a major shift from sandbox testing to live settlement, strengthening the city’s ambition to become a global crypto hub.
The pilot, running through 2026, will test tokenized money-market fund transactions and real-time liquidity management.
Initially, the HKD Real Time Gross Settlement system will support interbank settlement before expanding to 24/7 tokenized central bank money. The move comes as Asia accelerates work on tokenized finance.
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