The Hong Kong Monetary Authority announces the Ensemble project to support the development of Hong Kong’s tokenization market

The Hong Kong Monetary Authority today (March 7) announced the launch of Ensemble, a new wholesale-level central bank digital currency (wCBDC) project to support the development of Hong Kong’s tokenization market. The focus of the Ensemble project is the wCBDC “sandbox” that the HKMA will launch this year. The “sandbox” will further research and test tokenization use cases, including the settlement of tokenized real-world assets (such as green bonds, voluntary emission reductions) , aircraft, electric vehicle charging stations, electronic bills of lading and treasury management), are more likely to develop into new financial market infrastructure, serving as a bridge between tokenized real-world assets and tokenized currencies in transactions. Finally, if the wCBDC “sandbox” can receive a positive response from the industry, the HKMA will issue wCBDC in due course.