(30 August 2024 – Hong Kong) The Hong Kong Monetary Authority (HKMA) has launched Project Ensemble Sandbox (the Sandbox) as well as the four main themes of asset tokenisation use cases for the initial round of experimentation.
The Sandbox will explore innovative financial market infrastructure (FMI) to facilitate seamless interbank settlement of tokenised money through wholesale central bank digital currency (wCBDC).
Participating banks have linked their tokenised deposit platforms to the Sandbox, enabling experiments for both interbank payment-versus-payment and delivery-versus-payment settlement.
HKMA and the Securities and Futures Commission (SFC) will work closely to develop a regulatory framework that will support the sustainable growth of the tokenised asset market in Hong Kong.