The first phase of the Hong Kong Monetary Authority's Ensemble project sandbox has 25 participating institutions, including HSBC, Bank of China (Hong Kong), Hang Seng Bank, and Standard Chartered

2024-08-29 10:40:52

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ChainCatcher news, the Hong Kong Monetary Authority has launched the Ensemble project sandbox to promote tokenization applications. According to disclosed information, a total of 25 institutions are participating in the first phase, including the four major banks: HSBC, Bank of China Hong Kong, Hang Seng Bank, and Standard Chartered, as well as Ant Group and HashKey Group.

The first phase of the sandbox will focus on four major tokenized asset use case themes: fixed income and investment funds, liquidity management, green and sustainable finance, and trade and supply chain financing.

Hang Seng Bank's Executive Director and CEO, Angela Wong, stated that this testing provides valuable experience for tokenized deposits and asset trading, helping to improve the efficiency of existing settlement processes and reduce settlement risks, laying the foundation for the future development of new financial market infrastructure. Following this sandbox test, Hang Seng will continue to actively participate in the testing and research of Ensemble project use cases.

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