Hong Kong takes tokenized settlement to 24/7, plans stablecoin trials
Summary
Hong Kong’s Monetary Authority has expanded its EnsembleTX pilot to support 24/7 real-value settlement for tokenized transactions, using tokenized central bank money. The project is testing tokenized deposits and investments, and completed secondary-market trial trades in tokenized Exchange Fund Bills; regulated stablecoins are planned for future trials. Separately, HSBC said its Hong Kong dollar stablecoin, RedCoin, reached 50,000 users around 10 days after launch. Available through PayMe for transfers and merchant payments, it may later be added to HSBC’s banking app and used for tokenized investments. HSBC also offers tokenized deposits to wholesale clients in Hong Kong and other jurisdictions.
