The Hong Kong Monetary Authority (HKMA) announced Project Ensemble, a new wholesale central bank digital currency (wCBDC) project to support the development of the tokenisation market.
The project will explore innovative financial market infrastructure to facilitate efficient interbank settlement of tokenised money through wCBDC.
In connection with Project Ensemble, the HKMA will also launch a wCBDC Sandbox later this year which will research and test tokenisation use cases. Depending on industry interest in the wCBDC Sandbox, the HKMA is prepared to conduct a live issuance of wCBDC.