The HKMA’s initiatives to develop Hong Kong’s tokenisation market

The Hong Kong Monetary Authority commenced Project Ensemble in March 2024 and launched its sandbox in August. The sandbox creates an opportunity for industry participants to experiment with end-to-end tokenisation use cases. It also marks a significant step forward for the HKMA and the industry to set interoperability standards for the tokenisation ecosystem and co-develop Hong Kong’s tokenisation market. The experimentation of the sandbox covers four main themes including fixed income and investment funds, liquidity management, green and sustainable finance, and trade and supply chain finance.

HKMA joins OMFIF to discuss the progress made under Project Ensemble, the opportunities and challenges encountered along the journey and the next phase of the project.