Hong Kong launches 24/7 tokenized deposit settlement as Standard Chartered rolls out corporate service
Banks in Hong Kong can now settle tokenized deposit transactions around the clock using tokenized central bank money on the Hong Kong Monetary Authority's EnsembleTX platform, coinciding with Standard Chartered debuting its tokenized deposit service for corporate clients.
Banks in Hong Kong can now execute and settle tokenized deposit transactions with one another 24 hours a day, seven days a week, using tokenized central bank money, according to an announcement from the Hong Kong Monetary Authority reported by Unchained. The new capability operates inside EnsembleTX, the live pilot phase of the regulator's Project Ensemble initiative. HKMA Chief Executive Eddie Yue stated that the project has transitioned toward promoting the commercialization of tokenization applications across Hong Kong's financial sector.[9][3]
The EnsembleTX pilot encompasses 12 participating banks and 20 industry pioneers, with participants carrying out real-value transactions across corporate treasury functions and tokenized money market funds. Lenders named in the release include HSBC, Standard Chartered Bank (Hong Kong), Bank of China (Hong Kong), China Construction Bank (Asia), and ICBC (Asia), while asset managers and tech firms including BlackRock, Ant International, and China Asset Management (Hong Kong) are among the industry pioneers.[9][4]
Standard Chartered also launched its tokenized deposits offering in Hong Kong, marking the first market in its global network to introduce the product, according to reports by CoinDesk and Decrypt. Tapping the HKMA's EnsembleTX infrastructure, the bank enables eligible corporate clients to transfer programmable tokenized commercial cash between participating institutions in real time, settling continuously through central bank money.[5][6][8][10]
Initial corporate participants including China AMC, Finloop, and Panther Trade have begun settling tokenized money market funds on the platform, supported by digital custodial services from Fireblocks and HashKey Group. Officials in Hong Kong outlined further tokenization initiatives, including tests of tokenized Exchange Fund Bills, potential cross-border payments, and an upcoming interbank tokenized gold project on Ensemble.[2][7][9]
Key facts
- Hong Kong banks can settle tokenized deposit transactions 24/7 in tokenized central bank money on the HKMA's EnsembleTX platform.
- The EnsembleTX pilot includes 12 participating banks such as HSBC, Standard Chartered, and Bank of China (Hong Kong), alongside 20 industry pioneers including BlackRock and Ant International.
- Standard Chartered debuted tokenized deposits for corporate clients in Hong Kong, making it the first market in its global network to adopt the offering.
- China AMC, Finloop, and Panther Trade began settling tokenized money market funds using Standard Chartered's solution, with custody provided by Fireblocks and HashKey Group.
- Hong Kong officials reported ongoing testing for tokenized Exchange Fund Bills and plans for an interbank tokenized gold project representing standard 400-ounce bars.
Sources · 10 sources
- SI
Solid Intel 📡@solidintel_xPost on X ·
INTEL: Hong Kong launches 24/7 tokenized deposit settlement with real value on EnsembleTX | Per HKMA
Open source - CN
crypto.news@cryptodotnewsPost on X ·
JUST IN: Standard Chartered launches tokenized deposits in Hong Kong under the HKMA’s Project Ensemble The platform enables programmable corporate cash and 24/7 interbank settlement using central bank digital currency, with China AMC, Finloop and Panther Trade already settling tokenized money market funds.
Open source - LS
Laura Shin@laurashinPost on X ·
Project Ensemble is now about "promoting the commercialisation of tokenisation applications in Hong Kong," HKMA chief Eddie Yue said Monday, as banks in its EnsembleTX pilot can now settle tokenized deposit transactions overnight and on weekends. https://t.co/0Q8fPT8m7S
Open source - TW
The Wolf Of All Streets@scottmelkerPost on X ·
JUST IN: 🇭🇰 Hong Kong launches 24/7 settlement for tokenized deposits, with BlackRock among 20 pilot firms https://t.co/mannHIwh6U
Open source - CB
Crypto Briefing@Crypto_BriefingPost on X ·
⚡️NEW: Standard Chartered taps the HKMA's EnsembleTX infrastructure to bring real-time tokenized deposits to corporate clients in Hong Kong. https://t.co/3SUrSALKgW
Open source - CO
CoindeskArticle ·
Standard Chartered debuts tokenized deposits in Hong Kong for corporate clients The bank uses Hong Kong's EnsembleTX system to move deposits between participating banks around the clock, settling in central bank money.
Open source - BS
BSCN@BSCNewsPost on X ·
Standard Chartered has launched the world’s first tokenized deposits offering in Hong Kong Standard Chartered (@StanChart) launches its first-ever tokenized deposits solution in Hong Kong. Programmable commercial cash will be available in the corporate ecosystem through the HKMA's Project Ensemble framework. The solution enables round-the-clock interbank clearing through real-time central bank digital currency. Initial participants such as China AMC, Finloop and Panther Trade have started settling tokenized money market funds on this platform. The digital custodial services are powered by @FireblocksHQ and @HashKeyGroup.
Open source - DE
Decrypt@DecryptMediaPost on X ·
Standard Chartered Launches Tokenized Deposits in Hong Kong, Its First Market. The bank said eligible corporate clients can move tokenized deposits between participating banks in real time, with 24/7 interbank settlement in central bank money via the HKMA's Ensemble TX infrastructure.
Open source - UN
UnchainedArticle ·
HKMA Pilot Lets Banks Settle Tokenized Deposits Nights and Weekends in Central Bank Money Banks in Hong Kong can now settle tokenized deposit transactions with one another 24 hours a day, seven days a week , using tokenized central bank money, the Hong Kong Monetary Authority (HKMA) announced on Monday. The new capability sits inside EnsembleTX , the live pilot of the HKMA’s Project Ensemble . The pilot now counts 12 participating banks and 20 industry pioneers . Banks named in the release include HSBC, Standard Chartered Bank (Hong Kong), Bank of China (Hong Kong), China Construction Bank (Asia) and ICBC (Asia), while Ant International, BlackRock and China Asset Management (Hong Kong) are among the pioneers. The HKMA’s November 2025 launch notice for EnsembleTX said interbank legs would first clear over the HKD Real Time Gross Settlement (RTGS) system, with a later upgrade to tokenized central bank money around the clock. Participants used the pilot for real-value deals in corporate treasury and tokenized money market funds. HKMA Chief Executive Eddie Yue said in the release that the project had shifted “from experimentation and piloting to a new phase focused on promoting the commercialisation of tokenisation applications in Hong Kong.” He added that “a trend is emerging in the launch of tokenised deposits by banks worldwide.” Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter . 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. Licensed stablecoins operate in the same market, but Monday’s release does not mention them; the 24×7 settlement runs on bank deposits and central bank money. What Else Officials Announced Julia Leung , chief executive officer of the Securities and Futures Commission, said in the release that tokenized deposits “can now power around-the-clock transactions, including corporate treasury management and secondary trading of tokenised funds on licensed platforms.” Financial Secretary Paul Chan told Hong Kong FinTech Week earlier Monday that banks will also be able to use tokenized deposits for cross-border payments. He said the HKMA “is also testing tokenised Exchange Fund Bills” and working with Cyberport on business uses of tokenization. Two SFC-authorized tokenized money market funds started trading around the clock on a licensed platform last week, Chan said, and the HKMA granted its first two stablecoin issuer licenses in April. HSBC, one of those licensees and an EnsembleTX bank, launched its Hong Kong dollar stablecoin, RedCoin, last month. Secretary for Financial Services and the Treasury Christopher Hui said an interbank tokenized gold project will start soon on Ensemble, with each gold token representing one standard 400-ounce bar and tokenized deposits used alongside it. Project Ensemble has drawn asset managers before: Franklin Templeton partnered with HSBC and OSL through it to launch a tokenized money market fund in Hong Kong in November 2025. Related Listen: Weekly Recap: Bitcoin Outlooks Diverge, Balancer Breach Rocks DeFi The post HKMA Pilot Lets Banks Settle Tokenized Deposits Nights and Weekends in Central Bank Money appeared first on Unchained .
Open source - CO
CoinDesk@CoinDeskPost on X ·
LATEST: @StanChart launches tokenized deposits in Hong Kong, the first market in its global network enabling real-time 24/7 inter-bank settlement in central bank money for corporate clients, with China AMC, Fireblocks and HashKey among early partners. https://t.co/IvXlN5Kf57
Open source