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HK Establishes Project to Support Tokenisation

07 May 2024
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HK Establishes Project to Support Tokenisation

The HKMA announced the establishment of the Project Ensemble Architecture Community designed to shape standards and provide suggestions to support the development of Hong Kong’s tokenisation market alongside the industry.

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.
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