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.