Tokenised deposits enable 24/7 interbank settlement
The Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) are promoting commercial tokenisation through Project Ensemble. EnsembleTX enables 24/7 interbank settlement of tokenised deposits.
Settlement meets round-the-clock investment
Approximately 200 industry practitioners attended the HKMA and SFC seminar on November 11, 2026, covering Project Ensemble and tokenised SFC-authorised investment products.
Banks and industry pioneers shared practical experience to foster collaboration.
The event followed the announcement during Hong Kong Fintech Week 2026 of a new EnsembleTX phase enabling 24/7 interbank settlement of tokenised deposits.
The SFC has also approved round-the-clock secondary trading for tokenised money market funds.
Together, these arrangements allow real-time investment and return optimisation by connecting tokenised deposits with investment products.
Project Ensemble aims to expand transaction volumes through additional tokenisation use cases.
Digital rails seek commercial traffic
Nelson Chow, HKMA Executive Director for Financial Infrastructure, cited Hong Kong's advanced market infrastructure and expanding digital money and tokenised investment options as foundations for responsible innovation.
Elisa Ng, SFC Executive Director of Investment Products, said tokenisation was moving from experimentation towards commercialisation.
She identified the next task as generating traffic by connecting investment products, digital money and infrastructure, with industry collaboration translating opportunities into commercial applications.
Commercial use takes priority
The authorities put commercial applications at the centre of Project Ensemble's next phase.
Their stated goal is to expand transactions through use cases with tangible benefits.
The HKMA will work with the SFC and industry to broaden settlement of tokenised investment products using tokenised deposits.