Hong Kong moves from theory to practice with real-value tokenised money, asset deals



Hong Kong’s de facto central bank has begun facilitating real-value transactions using tokenised deposits and digital assets under a controlled pilot programme from Thursday, reinforcing the city’s status as a fintech hub.

The new phase of the Project Ensemble sandbox would enable seven commercial banks and 13 industry participants to settle tokenised transactions “faster, more transparently and efficiently”, the Hong Kong Monetary Authority (HKMA) said in a press release on Thursday.

The programme would run through 2026, with an initial focus on allowing market participants to use tokenised deposits in tokenised money-market funds and to manage liquidity and treasury needs in real time, according to the HKMA.

HSBC, Hong Kong’s largest banking group by assets, completed a cross-bank transfer of HK$3.8 million (US$489,000) in tokenised deposits for its client Ant International, according to a separate announcement on Thursday.

“The launch of [the new pilot] and the interoperability layer marks an essential step for Hong Kong to become a global hub for innovation in digital money and assets,” said Vincent Lau, global head of digital money at HSBC’s global payments solutions.

Lau said it aligned with rising demand from corporate treasuries for tokenisation, with a survey pointing to a sixfold surge over the next two years.

  • Related Posts

    PM Modi praises Indian community in Melbourne – Firstpost

    Prime Minister Narendra Modi on Thursday hailed the Indian diaspora in Australia for preserving its cultural roots while contributing to Australia’s growth, saying that although “the milk at home might…

    Continue reading
    PM Modi in Melbourne – Firstpost

    Prime Minister Narendra Modi on Thursday said the ‘Make in India’ initiative has transformed into a globally recognised brand over the past 12 years, with Indian-made products ranging from mobile…

    Continue reading

    Leave a Reply

    Your email address will not be published. Required fields are marked *