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Hong Kong introduces wholesale central bank digital currency initiative



The Hong Kong Monetary Authority (HKMA) has unveiled Project Ensemble, a venture aimed at advancing the tokenisation market through a new wholesale central bank digital currency (CBDC). This initiative seeks to pioneer financial market infrastructure, enabling efficient interbank settlements of tokenised money via wholesale CBDCs, with an initial focus on tokenised deposits. These digital representations of commercial bank deposits will be accessible to the public, issued by commercial banks. Aiming for a sandbox launch by June’s end, HKMA collaborates with digital asset financial services group HashKey. Supporting research and real-world applications exploration are Bank of China (Hong Kong), the Hong Kong Shanghai Banking Corporation, and Hang Seng Bank.

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