The HKMA's project is gearing up for more testing after successful initial trials.
The Hong Kong Monetary Authority (HKMA) launched the Project Ensemble sandbox on Aug. 28. Established in March, the project studies real-world asset tokenization and interbank settlement using wholesale central bank digital currency (wCBDC).
The HKMA said the project seeks to examine technical interoperability among tokenized assets, tokenized deposits and wCBDC. It will concentrate on four areas: fixed income and investment funds, liquidity management, green and sustainable finance, and trade and supply chain finance.
The HKMA emphasized the role of the Hong Kong Securities and Futures Commission (SFC) in the project. The SFC will co-lead parts of it. SFC CEO Julia Leung said:
