HKMA expands Project Ensemble to 24/7 tokenised settlement

The Hong Kong Monetary Authority said Project Ensemble has moved into a new phase that allows 24/7 interbank settlement of tokenised deposit transactions in tokenised central bank money, widening the scope of its pilot for tokenised finance in Hong Kong. In its announcement on 2 November, the HKMA said Ensemble TX, the pilot phase of Project Ensemble, now supports interbank settlement of tokenised deposit transactions in tokenised Central Bank Money on a round-the-clock basis. The authority said the number of participating banks has risen to 12 and industry pioneers to 20, indicating broader involvement in the pilot. The HKMA said the new capability enables participating banks and industry pioneers to use tokenised central bank money for settlement beyond conventional operating hours, which it said is intended to meet the needs…

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