HK Establishes Project to Support Tokenisation

The HKMA has announced that the Community will:

• Develop a set of industry standards to support interoperability among wholesale CBDC #wCBDC, tokenised money and tokenised assets;
• Make recommendations on specific topics, initially focusing on setting up a mechanism to support seamless interbank settlement of tokenised deposit through wCBDC for tokenised asset transactions; and
• Assist in the design and implementation of the Project Ensemble Sandbox projected to launch by mid-2024 to facilitate further research and testing of tokenisation use cases.

To learn more, read Plenitude’s latest paper, ‘Beyond Digital Assets: Understanding the compliance risks and considerations of Tokenisation’, to gain insights into the essential compliance and regulatory considerations for tokenisation projects.