Ensemble TX expands to tokenized central bank money settlement
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In November 2025, the Hong Kong Monetary Authority launched Ensemble TX, initially processing interbank settlement through the Hong Kong dollar Real Time Gross Settlement system. On November 2, 2026, the HKMA announced that the pilot had entered a new phase, introducing tokenized central bank money to support 24/7 settlement of tokenized deposits between banks during periods such as nighttime and public holidays, and exploring applications including corporate treasury management and trading of tokenized money market fund units. The HKMA said that the number of participating banks had increased to 12 and the number of industry pioneers to 20. On November 3, Standard Chartered announced the launch in Hong Kong of a 24/7 tokenized deposit transfer service for eligible corporates, which can be used for cash management, investment transactions, and intragroup liquidity management, and supports interbank transfers and central bank money settlement through Ensemble TX. On the same day, PantherTrade, a subsidiary of Futu, used HK$1 million in tokenized deposits to purchase units of a tokenized money market fund.
AI-written from reports · updated 2 hours ago
Developments
- Nov 3 10:26 · 1 reportsStandard Chartered launches a tokenized deposit transfer service in Hong KongFintech News Hong Kong：Standard Chartered launches 24/7 tokenized deposit transfer service in Hong Kong
- Nov 2 08:00 · 5 reportsHKMA expands Ensemble TX pilotHKMA — Press releases (繁體中文)：HKMA advances Ensemble TX to pilot phase, enabling 24/7 settlement with tokenized central bank money
Timeline
Follow the reporting to see the different sides of the story.
- Fintech News Hong KongHong Kong Monetary Authority expands EnsembleTX to support 24/7 settlement of tokenized deposits
Hong Kong Monetary Authority has expanded EnsembleTX to support participating institutions in using tokenized central bank money (CeBM) for 24/7 interbank settlement of tokenized deposits. The pilot currently involves 12 banks and 20 industry pioneers, with settlement covering overnight hours and public holidays. PantherTrade, a subsidiary of Futu, also used HK$1 million in tokenized deposits to purchase units in a tokenized money market fund.
- Fintech News Hong KongStandard Chartered launches 24/7 tokenized deposit transfer service in Hong Kong
Standard Chartered has launched a 24/7 tokenized deposit transfer service for corporate clients in Hong Kong, the first market in its global network to offer the service. Eligible corporates can use tokenized commercial bank deposits for cash management and investment transactions, including intragroup liquidity management. The service uses HKMA’s EnsembleTX platform to support real-time transfers between participating banks, with transactions settled in central bank money, including wholesale central bank digital currency (wCBDC).
- Ledger InsightsSelectedHong Kong EnsembleTX pilot supports 24/7 tokenized central bank money
The EnsembleTX tokenized deposit pilot operated by the Hong Kong Monetary Authority is expanding interbank settlement from RTGS to tokenized central bank money available 24/7. The number of participating banks has increased from 7 to 12, while other pioneer users have grown from 13 to 20; key applications include corporate treasury payments and investment in tokenized money market funds.
- HKMA — Press releases (繁體中文)SelectedHKMA advances Ensemble TX to pilot phase, enabling 24/7 settlement with tokenized central bank money
HKMA announced that Ensemble TX has entered a new phase, using tokenized central bank money to support 24/7 instant settlement of interbank tokenized deposits, with participating banks increasing to 12 and industry pioneers to 20. Launched in November 2025, Ensemble TX initially processed related settlements through the Hong Kong dollar Real Time Gross Settlement system. It will now support transactions outside traditional operating hours and explore applications including corporate treasury management and secondary-market trading of tokenized funds.
- HKMA — Press releases (English)SelectedHKMA Advances Project Ensemble, Ensemble TX Supports 24/7 Settlement with Tokenized Central Bank Money
HKMA announced that Ensemble TX, the pilot phase of Project Ensemble, has added around-the-clock interbank settlement capabilities, supporting the settlement of tokenized deposit transactions with tokenized central bank money. The number of participating banks has increased to 12, while the number of industry pioneers has risen to 20; the pilot previously used the HKD RTGS system for interbank settlement.
- HKMA — Press releases (简体中文)SelectedHKMA advances Ensemble TX pilot, using tokenized central bank money to support 24/7 settlement
The Hong Kong Monetary Authority announced that the Ensemble TX pilot phase will introduce tokenized central bank money to support 24/7 settlement of interbank tokenized deposits. The number of participating banks has increased to 12, and the number of industry pioneers to 20; the system was launched in November 2025 and initially processed related settlements through the Hong Kong Dollar Real Time Gross Settlement system. Pilot transactions include corporate treasury management and tokenized money market fund transactions. The HKMA will continue to advance the development of related market infrastructure with the Securities and Futures Commission.
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