Hong Konglaunched the Project Ensemble pilot phase, which includes real-value transactions with tokenized deposits, ushering in a new era in the digital asset ecosystem. spent. Hong Kong Monetary Authority The project initiated by (HKMA) aims to accelerate digital asset integration in the country’s financial infrastructure and make Hong Kong one of Asia’s leading cryptocurrency hubs. The HKMA emphasized that the work moves beyond mere theoretical testing to transactions of value.
Digital Deposits Are Tested with Real Value
HKMA launched in August 2024 Project Ensemble After the sandbox process, it has now switched to tokenized deposit transactions under live market conditions. The pilot will continue until 2026 and will initially include liquidity and treasury management tests with tokenized money market funds. HKMA President Eddie YueStating that the project has now reached a stage where “innovation meets application”, he said that all the elements tested in Ensemble Sandbox are now used in valuable transactions.
First operations under the pilot Hong Kong dollar It will be carried out through the Real Time Gross Settlement (RTGS) system. In later stages, it is planned to move to a 24/7 tokenized consensus infrastructure with central bank digital money. The development is seen as critical in terms of both transparency in interbank payments and increasing transaction speed in the financial market.
Tokenization Race Between Asian Hubs
The HKMA’s initiative has accelerated the digital transformation competition among Asia’s financial centres. Chairman of the Hong Kong Securities and Futures Commission Julia Leungemphasized that “interoperability” is the key element for the tokenization of investment products to scale. Leung stated that HKMA’s new initiative will make a significant contribution to this goal by allowing 24/7 real-time settlement of tokenized deposits.
The Monetary Authority of Singapore also issued tokenized MAS bonds as a central bank last week. digital moneyHe announced that he planned to test it with . During the same period, DBS Bank and JP Morgan’s Kinexys platform announced that they had developed an interoperability framework that would allow tokenized deposit transfers between different Blockchain networks. Thus, regional central banks are turning to tokenization-based payment systems as the new backbone of digital finance.
