Project Ensemble, the Hong Kong Monetary Authority’s tokenisation pilot, can now settle interbank tokenised deposit transactions in tokenised central bank money around the clock, the HKMA said on November 2, 2026. The Ensemble TX pilot phase has also grown to 12 participating banks and 20 industry pioneers, including Ant International and BlackRock.
Why it matters: Ensemble TX used the HKD RTGS system for interbank settlement when it launched in November 2025, so banks such as HSBC, Standard Chartered and Bank of China (Hong Kong) can now settle tokenised deposit flows for corporate treasury and tokenised money market fund trades beyond conventional operating hours. SFC chief executive Julia Leung said the change supports round-the-clock secondary trading of tokenised funds on licensed platforms.
Source: Hong Kong Monetary Authority, November 2, 2026
Related: HSBC RedCoin stablecoin goes live for 3.3 million PayMe users in Hong Kong · Swift ledger carries live tokenised payments for most of its first-mover banks · Asia Fintech: HKMA moves Project Ensemble to 24/7 settlement in tokenised central bank money
Image: Minghong, CC BY-SA 4.0, via Wikimedia Commons
