Deployments · platform by Hong Kong Monetary Authority
HKMA EnsembleTX tokenised deposit pilotUpdated 28 Oct 2026
The pilot phase of the HKMA's Project Ensemble, running through 2026, in which seven Hong Kong banks offer tokenised deposits to customers and settle interbank tokenised deposit transactions in real value, first through the HKD real-time gross settlement system and later in tokenised central bank money around the clock. First uses are tokenised money market fund transactions and real-time treasury management. In September 2026 tokenised deposits were used to settle the HKD tranche of the government's fourth digital green bond.
Pilot since 13 Nov 2025[2] — Real-value pilot in a controlled setting; no volumes published. · Reviewed 24d ago
- Assets
- Networks
- Jurisdictions
- Hong Kong
Participants
- Hong Kong Monetary AuthorityPlatform provider, Operator[2]Hong Kong
- Bank of China (Hong Kong)Issuer[3]Hong Kong
- China Construction Bank (Asia)Issuer[3]Hong Kong
- Fubon Bank (Hong Kong)Issuer[3]Hong Kong
- Fusion BankIssuer[3]Hong Kong
- Standard CharteredIssuer, Custodian[3][5]United Kingdom
- Bank of East AsiaIssuer[3]Hong Kong
- HSBCIssuer[3]United Kingdom
- Ant Digital TechnologiesTechnology provider[3]China
- Ant InternationalClient or user[3][1]Singapore
- BlackRockAsset manager[3]United States
- BOCHK Asset ManagementAsset manager[3]Hong Kong
- Bosera Asset Management (International)Asset manager[3]Hong Kong
- ChinaAMCAsset manager[3]China
- China Resources LongdationClient or user[3]Hong Kong
- EVIDENTTechnology provider[3]Hong Kong
- Franklin TempletonAsset manager[3]United States
- HKEXCounterparty[3]Hong Kong
- JETCOTechnology provider[3]Hong Kong
- Solomon JFZ (Asia) HoldingsCounterparty[3]Hong Kong
- Hong Kong and China GasClient or user[3]Hong Kong
- Government of the Hong Kong SARIssuer[4]Hong Kong
- Futu Securities International (Hong Kong)Client or user[5]Hong Kong
- LibearaTechnology provider[5]Singapore
Timeline
- Happened 29 Sep 2026 · First transaction · recorded 11 Oct 2026Tokenised deposits via EnsembleTX settle the HKD tranche of the government's fourth digital green bond offering.[4]
- Happened 13 Nov 2025 · Launch · recorded 11 Oct 2026HKMA launches EnsembleTX for real-value tokenised deposit and digital asset transactions through 2026.[2]
- Happened 13 Nov 2025 · First transaction · recorded 15 Oct 2026HSBC, having linked its Tokenised Deposit Service to the EnsembleTX interoperability layer, moves HKD 3.8 million of tokenised deposits for Ant International to its wallet at another Hong Kong bank, among the first EnsembleTX transactions.[1]
- Happened Aug 2024 (month only) · Announcement · recorded 11 Oct 2026Ensemble Sandbox opens for testing digital asset settlement with experimental tokenised deposits.[2]
Sources
- [1]HSBC completes first live cross-bank transaction in EnsembleTX — HSBC, 13 Nov 2025. Accessed 15 Oct 2026.B
- [2]HKMA announces the new phase of Project Ensemble to support real-value transactions in tokenised deposits and digital assets — Hong Kong Monetary Authority, 13 Nov 2025. Accessed 11 Oct 2026.A
- [3]Annex A and B - Tokenised Deposit Banks and Other Industry Pioneers of EnsembleTX — Hong Kong Monetary Authority, 13 Nov 2025. Accessed 11 Oct 2026.A
- [4]HKSAR Government's Fourth Digital Green Bonds Offering — Hong Kong Monetary Authority, 29 Sep 2026. Accessed 11 Oct 2026.A
- [5]Standard Chartered successfully completes real-value transaction use cases of tokenised money and assets in EnsembleTX — Standard Chartered Bank (Hong Kong), 13 Nov 2025. Accessed 28 Oct 2026.B
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