The Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) co-hosted a seminar on Project Ensemble and tokenised SFC-authorised investment products on 11 November.
Around 200 industry practitioners attended the event, where banks and industry pioneers shared their practical experience in tokenisation.
Project Ensemble is the HKMA’s initiative to develop tokenisation across Hong Kong’s financial system.
Its pilot phase, EnsembleTX, launched in November 2025, supports real-value transactions involving tokenised deposits.
24/7 settlement and round-the-clock fund trading
The seminar followed the HKMA’s announcement during Hong Kong Fintech Week 2026, that EnsembleTX now supports 24/7 interbank settlement of tokenised deposits.
Transactions settle in tokenised central bank money, with the pilot involving 12 participating banks and 20 industry pioneers.
Separately, the SFC has approved round-the-clock secondary trading of tokenised money market funds. Trading in two SFC-authorised funds began on a licensed virtual asset trading platform on 26 October.
The regulators said integrating tokenised deposits with tokenised investment products allows investors to make investments in real time and optimise returns.
“Tokenisation in Hong Kong is moving beyond experimentation towards commercialisation. The next stage is to generate traffic on these digital rails by connecting tokenised investment products, digital money and financial infrastructure,”
said Elisa Ng, Executive Director of Investment Products at the SFC.
Project Ensemble’s next stage
Project Ensemble aims to scale up transactions by introducing more tokenisation use cases that deliver tangible benefits. These efforts will also support the development of a sustainable tokenisation market.
The HKMA will continue working with the SFC and industry participants to expand the commercial applications of tokenised deposits. This includes using them to settle different types of tokenised investment products.
“Hong Kong is well positioned to capitalise on the tokenisation era, driven by its advanced financial market infrastructure and an expanding array of digital money options and tokenised investment products,”
said Nelson Chow, Executive Director (Financial Infrastructure) at the HKMA.
Chow added that the HKMA will continue to work closely with the SFC to foster responsible innovation in tokenisation.
Featured image credit: Edited by Fintech News Hong Kong, based on image by HKMA
