Hong Kong banks begin 24/7 tokenized deposit settlement with HKMA

Banks in Hong Kong can now settle tokenized deposit transactions around the clock using tokenized central bank money, according to an announcement on Monday by the Hong Kong Monetary Authority (HKMA). This development forms part of the live pilot known as EnsembleTX, under the broader Project Ensemble initiative led by the HKMA. EnsembleTX has expanded to include 12 participating banks and 20 industry stakeholders, bringing together prominent financial institutions and technology pioneers. Among the participants are HSBC, Standard Chartered Bank (Hong Kong), Bank of China (Hong Kong), China Construction Bank (Asia), and ICBC (Asia).