Hong Kong Monetary Authority shifts Project Ensemble pilot to 24/7 tokenised settlement

The Hong Kong Monetary Authority said on November 2, 2026, that EnsembleTX, the pilot phase of Project Ensemble, now supports interbank settlement of tokenised deposit transactions in tokenised central bank money 24 hours a day, seven days a week. Participants can settle tokenised transactions outside conventional banking hours.

EnsembleTX began in November 2025 for real-value transactions in tokenised deposits and digital assets in a controlled environment. Interbank settlement initially ran through Hong Kong’s HKD Real Time Gross Settlement system. The HKMA said participants have used bank-issued tokenised deposits for corporate treasury management and tokenised money market fund transactions.

Twelve banks and 20 industry participants now take part. The banks include HSBC, Standard Chartered Bank (Hong Kong), Bank of China (Hong Kong), China Construction Bank (Asia), and ICBC (Asia). Industry participants include Ant International, BlackRock, and China Asset Management (Hong Kong).

Eddie Yue, Chief Executive of the HKMA, said, “In just two years, Project Ensemble has transitioned from experimentation and piloting to a new phase.” Julia Leung, Chief Executive Officer of the Securities and Futures Commission, said, “The introduction of 24/7 interbank settlement in tokenised CeBM represents a significant step.”

The HKMA said it will continue working with the SFC on tokenised markets and market infrastructure.