Hong Kong bank pilot opens 24/7 cash settlement for tokenized fund deals
Summary
Hong Kong’s Monetary Authority upgraded its EnsembleTX tokenization pilot to support round-the-clock interbank settlement in tokenized central bank money. The 12-bank pilot, involving 20 industry participants, already supports corporate treasury activity and tokenized money market fund transactions using commercial-bank tokenized deposits. The change extends cash-settlement availability, but does not guarantee continuous trading for every fund; service depends on participating banks and platforms. Separately, the HKMA reported completed trials of secondary-market trades in tokenized Exchange Fund Bills and plans to expand trials to regulated stablecoins.
