Hong Kong EnsembleTX upgrade: enables 24x7 round-the-clock settlement of tokenized deposits, participating banks expand to 12

The Hong Kong Monetary Authority (HKMA) announced today (November 2) that EnsembleTX, the pilot phase of the Ensemble project, has entered a new chapter, enabling 24x7 round-the-clock settlement of interbank tokenized deposits through tokenized central bank money. The number of banks and industry pioneers participating in EnsembleTX has increased to 12 and 20 respectively, marking broader industry participation. The new feature allows participating banks and industry pioneers to conduct instant tokenized transaction settlement using tokenized central bank money outside traditional operating hours, meeting the needs of an increasingly globalized and round-the-clock digital financial market. Launched in November 2025, EnsembleTX initially used the Hong Kong dollar Real Time Gross Settlement (RTGS) system for settlement of interbank tokenized deposits, and enabled real transactions involving tokenized deposits and digital assets in a controlled pilot environment, including industry pioneers using tokenized deposits provided by participating banks for corporate treasury management and tokenized money market fund transactions. With the launch of the new feature, the Ensemble project will further promote the expansion of transaction scale and explore more impactful tokenization use cases, thereby delivering tangible benefits and supporting the sustainable development of the tokenized market. Looking ahead, the HKMA will continue to deepen cooperation with the Securities and Futures Commission (SFC) to foster a supportive and synergistic environment to further promote the development of the tokenized finance ecosystem and related market infrastructure. HKMA Chief Executive Eddie Yue said: "In just two years, the Ensemble project has progressed from the experimentation and pilot phase to a new phase of driving commercial tokenization applications in Hong Kong. The rapid and steady upgrading of infrastructure demonstrates the HKMA's commitment to promoting the development of Hong Kong's tokenization ecosystem. As the market continues to evolve, the trend of global banks issuing tokenized deposits is becoming increasingly prominent. Looking ahead, we expect the commercialization of tokenized deposits and digital assets to further accelerate. In addition, we eagerly anticipate more innovative ideas from the market in the coming years to further drive the development of Hong Kong's tokenization ecosystem." SFC Chief Executive Officer Julia Leung said: "The introduction of 24x7 interbank settlement using tokenized central bank money is an important step for Hong Kong towards a more scaled tokenized market. Tokenized deposits will support round-the-clock trading, including corporate treasury management and secondary market trading of tokenized funds on licensed platforms, helping to promote market liquidity and support investors' risk management needs. The SFC will continue to work hand in hand with the HKMA and market participants to promote the practical application of EnsembleTX's new features and further advance the development of digital assets in Hong Kong."