ChainCatcher news, according to the Hong Kong Monetary Authority, JPMorgan, R3, and WeBank will join the Ensemble project architecture working group as new members. Previously, the working group members included the Monetary Authority, the Securities and Futures Commission, the Hong Kong Centre under the Bank for International Settlements Innovation Hub, the CBDC Expert Group, and seven private institutions.In addition, China Construction Bank (Asia) Corporation Limited, Fubon Bank (Hong Kong) Limited, Yintong, and OSL Digital Securities Limited will become new participants in the Ensemble project and will conduct testing on fixed income and investment fund use cases in the Ensemble sandbox.

ChainCatcher news, according to Sina Technology, Ant Group has posted multiple RWA architect positions on overseas social media platforms, all located in Hong Kong. Sources reveal that these new hires will participate in the sandbox work of the Hong Kong Monetary Authority's (HKMA) wholesale central bank digital currency Ensemble project.

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.

ChainCatcher news, the Hong Kong Monetary Authority held the launch ceremony for the Ensemble project sandbox today, announcing that the first phase of the experiment will cover four major tokenized asset use case themes, marking an important step forward in the practical application of tokenization technology in the financial industry.

ChainCatcher news, according to official sources, HashKey Group has joined the Hong Kong Monetary Authority's Ensemble project working group. HashKey Group will integrate its practical experience in virtual asset custody, trading, digital payments, STO technology solutions, and RWA asset tokenization to provide comprehensive Web3 new financial infrastructure support for the tokenization of financial assets, including bank deposits and green bonds.Dr. Xiao Feng, Chairman and CEO of HashKey Group, stated: "In the Web3 new economy, CBDC based on distributed ledger technology is essentially a digital form of cash, which can help traditional financial markets connect with the Web3 market. The HKMA's wCBDC project Ensemble focuses on practical use cases of tokenized deposits and tokenized asset trading, deeply exploring the value brought by the programmability of digital assets and instant settlement. In the future, we will explore a set of feasible standards and rules for the application of various digital assets in mainstream financing, payments, and settlement scenarios, which will benefit Hong Kong in building a more efficient and liquid economic system."

ChainCatcher news, according to official sources, the Hong Kong Monetary Authority announced today the establishment of the Ensemble Project Framework Working Group, which will work with the industry to establish standards and make recommendations to support the development of the tokenized market in Hong Kong.It is reported that the working group will promote the formulation of industry standards to support the interoperability between wholesale central bank digital currency (wCBDC), tokenized currency, and tokenized assets. The working group will make recommendations on specific topics, initially focusing on establishing mechanisms for tokenized asset trading, facilitating interbank settlement of tokenized deposits through wCBDC. The working group will also assist in designing and building the Ensemble project sandbox, which is planned to be launched in mid-year, to further research and test tokenization use cases.In addition, the working group is composed of cross-sector industry representatives, covering regulatory agencies, international organizations, academia, local and multinational banks, major participants in the digital asset industry, and technology companies. Initial members include the Monetary Authority, the Securities and Futures Commission, the Hong Kong Centre under the Innovation Hub of the Bank for International Settlements, the CBDC Expert Group (Note 2), and seven private institutions, namely Bank of China (Hong Kong), Hang Seng Bank, HSBC, Standard Chartered Hong Kong, HashKey Group, Ant Digital Technology, and Microsoft Hong Kong.Regarding the composition of the initial members of the working group, the Monetary Authority carefully considered various factors, including members' expertise, relevant experience, capabilities, and innovative thinking in promoting the development of Hong Kong's tokenized market. The Monetary Authority will work closely with the industry and review the size and composition of the working group in a timely manner.

ChainCatcher news, the Hong Kong Monetary Authority (HKMA) has announced the launch of a new wholesale Central Bank Digital Currency (wCBDC) project called "Ensemble" to support the development of Hong Kong's tokenized market. The new project aims to develop innovative financial market infrastructure, facilitating smooth interbank settlements of tokenized currencies through wCBDC. The project will initially focus on tokenized deposits, which are digital forms of commercial bank deposits issued and provided to the public by commercial banks. Based on wCBDC, tokenized deposits can be used for trading tokenized assets.It is reported that the focus of the Ensemble project is the wCBDC "sandbox" that the HKMA will launch this year. The "sandbox" will further explore and test tokenization use cases, including the settlement of tokenized real-world assets (such as green bonds, voluntary emission reductions, aircraft, electric vehicle charging stations, electronic bills of lading, and treasury management), and is likely to develop into new financial market infrastructure, serving as a bridge between tokenized real-world assets and tokenized currencies in transactions. If the wCBDC "sandbox" receives positive feedback from the industry, the HKMA will issue wCBDC in due course.In addition, the HKMA will establish a wCBDC framework working group composed of local and multinational banks, key participants in the digital asset industry, technology companies, and CBDC experts. The HKMA will also continue to collaborate with Cyberport and Hong Kong Science Park to promote the development of asset tokenization and support local fintech innovation.