HashKey Group will experiment with tokenized financial solutions in the Hong Kong Monetary Authority's Ensemble project sandbox
The experimental results will help establish industry standards for the development of the tokenized market in Hong Kong.Hong Kong, August 28, 2024 --- HashKey Group, Asia's leading end-to-end digital asset financial services group ("HashKey" or "the Group"), today announced its participation in the Hong Kong Monetary Authority's Ensemble project sandbox.
As one of the participants with a comprehensive Web3 ecosystem in the Ensemble project architecture working group, HashKey will initially explore the tokenization and trading of real-world assets (RWA), including carbon credits, green assets, and money market funds.
Dr. Xiao Feng, Chairman and CEO of HashKey Group, stated: "HashKey Group is honored to be one of the members of the Hong Kong Monetary Authority's Ensemble project sandbox. This project supports financial institutions in using wholesale Central Bank Digital Currency (wCBDC) based on distributed ledger technology, exploring the interoperability between tokenized currencies and tokenized assets. This will greatly facilitate the interconnection between traditional financial markets and the Web3 market, providing more automated and intelligent services for fiat currency systems and promoting inclusive finance. It is another significant initiative by Hong Kong to support financial innovation. By participating in the Project Ensemble sandbox, HashKey Group will leverage its successful experience in asset tokenization and digital asset trading to contribute to building a more efficient and robust economy."
HashKey Group joined the Hong Kong Monetary Authority's Ensemble project architecture working group in May this year. As a leader in supporting financial innovation, HashKey's business covers the entire Web3 field, including providing tokenization consulting, token architecture design, and trading platforms and liquidity for tokenized assets across different asset categories. HashKey also possesses decentralized infrastructure, such as the HashKey Chain, which supports token issuance through the Ethereum Layer-2 network, all of which will operate within a robust system and a high compliance regulatory framework.
The Group believes that through this sandbox experiment, the innovative development of tokenization and wholesale Central Bank Digital Currency will no longer be limited to theoretical discussions but will create real and actionable value. The results of the experiment will help promote the development of innovative financial market infrastructure and consolidate Hong Kong's leading position in the Web3 field.
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