HKMA Launches Live Pilot for 24/7 Tokenized Settlement System

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The Hong Kong Monetary Authority (HKMA) is launching a live pilot for Project Ensemble, a crucial test for a next-generation financial market infrastructure.

The initiative has advanced from a sandbox to processing real-value transactions, starting with interbank settlement via the existing HKD Real Time Gross Settlement system.

The long-term vision is to upgrade this environment to support 24/7 settlement in tokenized central bank money, fundamentally modernizing how digital assets like tokenized funds are traded and managed.