Hong Kong unveils 24/7 tokenized settlement expansion
6.7 Banking Hong Kong expands Project Ensemble for 24/7 settlement of tokenized assets. Stablecoin trials are planned, and the HKDAP stablecoin will launch on Solana for retail payments.
Hong Kong has made significant strides in digital finance by expanding Project Ensemble to enable 24/7 settlement of tokenized bank deposits and government debt. The upgraded EnsembleTX platform now lets participating banks and industry stakeholders process real-value transactions using tokenized central bank money at any time, eliminating traditional banking-hour limitations. The Hong Kong Monetary Authority (HKMA) announced that 12 banks and 20 industry participants are involved in the pilot, which has already completed secondary-market trials of tokenized Exchange Fund Bills. Regulated stablecoins will be included in upcoming settlement trials, further integrating digital assets into the financial system. Additionally, the Solana Foundation and Anchorpoint Financial will launch the HKDAP stablecoin natively on the Solana blockchain, supporting retail payments and settlement of tokenized assets. These initiatives mark a major step toward real-time financial operations and wider blockchain adoption in Hong Kong's financial sector.
