The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) today (November 2) announced that EnsembleTX, the pilot phase of Project Ensemble, has entered a new chapter to support the interbank settlement of tokenised deposit transactions in tokenised Central Bank Money (CeBM) on a 24×7 basis. The number of participating banks (at Annex A) and industry pioneers (at Annex B) of EnsembleTX has increased to 12 and 20 respectively, marking broader industry participation.
The new capability enables participating banks and industry pioneers to leverage tokenised CeBM for the timely settlement of tokenised transactions beyond conventional operating hours, helping to meet the needs of an increasingly global and always-on digital financial market.
Launched in November 2025, EnsembleTX initially leveraged the HKD Real Time Gross Settlement (RTGS) system for interbank settlement of tokenised deposit transactions, enabling real-value transactions involving tokenised deposits and digital assets under a controlled pilot environment, including industry pioneers (Note 1) leveraging tokenised deposits provided by participating banks (Note 2) for corporate treasury management and tokenised money market fund transactions. With the launch of the new capability, Project Ensemble will further facilitate the scaling of transactions and the exploration of more impactful tokenisation use cases which will deliver tangible benefits and support the development of a sustainable tokenisation market.
Looking ahead, the HKMA will continue to work closely with the Securities and Futures Commission (SFC) to facilitate a supportive and co-ordinated environment for the development of tokenised financial ecosystem and related market infrastructure.
The Chief Executive of the HKMA, Mr Eddie Yue, said, "In just two years, Project Ensemble has transitioned from experimentation and piloting to a new phase focused on promoting the commercialisation of tokenisation applications in Hong Kong. The swift yet incremental upgrade of the infrastructure demonstrates the HKMA's determination to foster the development of the tokenisation ecosystem in Hong Kong. As the market continues to evolve, a trend is emerging in the launch of tokenised deposits by banks worldwide. Looking ahead, we anticipate that the commercialisation of tokenised deposits and digital assets will gain momentum. Moreover, we eagerly await the emergence of innovative ideas from the market in the years to come, which will further accelerate the growth of the tokenisation ecosystem in Hong Kong."
The Chief Executive Officer of the SFC, Ms Julia Leung, said, "The introduction of 24×7 interbank settlement in tokenised CeBM represents a significant step towards a more scalable tokenised market in Hong Kong. Tokenised deposits can now power around-the-clock transactions, including corporate treasury management and secondary trading of tokenised funds on licensed platforms, galvanising market liquidity and supporting investors' risk management. The SFC will continue to work together with the HKMA and market participants to turn the new EnsembleTX capabilities into practical applications and further advance Hong Kong's digital asset journey."
Note 1: Including: Ant International, BlackRock, China Asset Management (Hong Kong) Limited
Note 2: Including: Bank of China (Hong Kong) Limited, China Construction Bank (Asia) Corporation Limited, Industrial and Commercial Bank of China (Asia) Limited, Standard Chartered Bank (Hong Kong) Limited, The Hongkong and Shanghai Banking Corporation Limited