The Hong Kong Monetary Authority (HKMA) has launched the Project Ensemble sandbox, focused on exploring real-world asset tokenisation and interbank settlement using wCBDC. According to the announcement, the HKMA explained that the project aims to investigate the technical interoperability among tokenised assets, tokenised deposits, and a wholesale central bank digital currency (wCBDC).

The project will target four key areas: fixed income and investment funds, liquidity management, green and sustainable finance, and trade and supply chain finance. Collaboration between major Banks and regulators The HKMA highlighted the involvement of the Hong Kong Securities and Futures Commission (SFC), which will co-lead certain aspects of the project. The Sandbox launch aims to clearly demonstrate how innovation and regulation can work together to create new opportunities for financial markets.

The Bank for International Settlements Innovation Hub’s Hong Kong Centre is also participating in Project Ensemble. Members of the Project Ensemble Architecture Community include the Bank of China (Hong Kong), Hang Seng Bank, Hong Kong and Shanghai Banking Corporation (HSBC), Standard Chartered Hong Kong, HashKey Group, Ant Digital Technologies, and Microsoft Hong Kong. .