HKMA Pilot Lets Banks Settle Tokenized Deposits Nights and Weekends in Central Bank Money
By Unchained
AI summary of the source article
Hong Kong banks can now settle tokenized deposits 24/7 using tokenized central bank money under the HKMA's EnsembleTX pilot. The initiative includes 12 participating banks and 20 industry pioneers.
Why it matters
Hong Kong’s round-the-clock option for tokenized bank deposits settles in money the HKMA itself issues, so banks no longer wait for RTGS hours to close the interbank leg.
Key facts
- HKMA announced that banks in Hong Kong can settle tokenized deposits 24/7 using tokenized central bank money via EnsembleTX.
- The EnsembleTX pilot counts 12 banks, including HSBC, Standard Chartered, and Bank of China (Hong Kong), alongside 20 industry pioneers.
- The system enables 24/7 interbank settlement without waiting for standard Real Time Gross Settlement (RTGS) operating hours.
Source excerpt · Unchained
The HKMA's EnsembleTX pilot, now with 12 banks including HSBC and Standard Chartered, added round-the-clock interbank settlement nearly a year after it went live. The post HKMA Pilot Lets Banks Settle Tokenized Deposits Nights and Weekends in Central Bank Money appeared first on Unchained .