Secretary for Financial Services and the Treasury Xu Zhengyu said two licensed
stablecoin issuers participated in HKMA-led CBDC and tokenized-deposit pilots,
partnering with local telecoms, payments and digital-asset firms. The HKMA has
set up an Ensemble project architecture working group to establish local unified
standards and enable interoperability between CBDC, tokenized currency and
tokenized assets to allow seamless fund and asset flows within the tokenization
ecosystem. Building on Ensemble sandbox results, the HKMA launched the
EnsembleTX platform in November to support real transactions of tokenized
deposits and digital assets in a controlled pilot, initially promoting use of
tokenized deposits in tokenized money-market fund trades for real-time liquidity
and funding management.
