Tokenised deposits gain 24/7 central bank money settlement
Hong Kong Monetary Authority (HKMA) pilot EnsembleTX now supports 24/7 interbank settlement of tokenised deposits in tokenised central bank money. Participation has expanded to 12 banks and 20 industry pioneers.
Settlement beyond banking hours
EnsembleTX now lets participants settle tokenised deposit transactions in tokenised central bank money beyond conventional operating hours.
Launched in November 2025, the Project Ensemble pilot initially used the Hong Kong dollar Real Time Gross Settlement system for interbank settlement.
It enabled real-value transactions involving tokenised deposits and digital assets in a controlled environment.
The upgrade supports transaction scaling and exploration of further tokenisation uses.
The HKMA will continue working with the Securities and Futures Commission (SFC) on the tokenised financial ecosystem and related market infrastructure.
Participation now totals 12 banks and 20 industry pioneers.
Treasury and funds lead applications
Uses include corporate treasury management and tokenised money market fund transactions.
Named pioneers include Ant International, BlackRock and China Asset Management (Hong Kong) Limited.
Named banks include 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 and The Hongkong and Shanghai Banking Corporation Limited.
Applications beyond the infrastructure
HKMA Chief Executive Eddie Yue describes commercialisation following two years of experimentation and piloting.
SFC Chief Executive Officer Julia Leung points to secondary trading of tokenised funds on licensed platforms.
Both emphasize turning settlement capabilities into practical applications.