The Hong Kong Monetary Authority (HKMA) announced on 2 November 2026 that Project Ensemble has expanded its pilot programme to allow banks to settle transactions using tokenised central bank money around the clock, including weekends and public holidays.
The upgrade is part of EnsembleTX, the pilot phase of Project Ensemble, which aims to support the use of digital money and tokenised assets in Hong Kong’s financial market.
Participation in the programme has also grown, with 12 banks and 20 industry partners now involved.
The new system allows participating banks to settle transactions using tokenised central bank money (CeBM) at any time, rather than being limited to normal banking hours. This could help businesses transfer funds faster and support financial transactions across different time zones.
Launched in November 2025, EnsembleTX initially used Hong Kong’s existing real-time payment settlement system to process transactions involving tokenised deposits and digital assets in a controlled testing environment.
The pilot has already supported activities such as corporate cash management and transactions involving tokenised money market funds. With the latest upgrade, the HKMA aims to expand these activities and encourage wider use of digital financial assets.
The HKMA will continue working with the Securities and Futures Commission (SFC) to develop the infrastructure and regulatory environment needed to support Hong Kong’s growing digital asset market.
HKMA Chief Executive Eddie Yue said Project Ensemble has moved from early testing towards the commercial use of tokenised financial products in just two years. He expects the use of tokenised deposits and digital assets to grow as more banks adopt the technology.
SFC Chief Executive Officer Julia Leung said the introduction of 24/7 settlement could help improve market liquidity and allow businesses and investors to complete transactions more efficiently.
She added that the new capability could support corporate cash management and the trading of tokenised funds on licensed platforms.
The two regulators plan to continue working with banks and other financial institutions to turn these new capabilities into practical services and strengthen Hong Kong’s position in the digital asset market.
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