Hong Kong Launches Live Tokenized Deposit Pilot Program

Hong Kong’s Project Ensemble is now live, launching a real-world pilot program to test tokenized deposits. This initiative expands the city’s efforts in digital finance and aims for 24/7 availability of tokenized central bank money. The project utilizes HKD Real Time Gross Settlement system for initial transactions, while the HKMA plans an upgrade to introduce settlement on tokenized central bank money in the future.