Hong Kong’s Money Never Sleeps: 24/7 Tokenized Settlement Hits EnsembleTX 🌙

Hong Kong has launched 24/7 settlement for tokenized deposits under Project Ensemble, allowing participating banks to process blockchain transactions with tokenized central bank money outside conventional banking hours.

The Hong Kong Monetary Authority (HKMA) announced the upgrade on November 2 and said it will continue participating in the EnsembleTX settlement pilot. The program now comprises 12 participating banks and 20 industry pioneers.

Settlement previously focused on interbank transactions in Hong Kong through the Real Time Gross Settlement system. The expanded pilot enables institutions to conduct transactions day and night, including corporate treasury operations and transactions involving tokenized investment products, while facilitating transfers of real value between banks using tokenized central bank money.

The HKMA also plans to test settlement involving regulated stablecoins following completed trades in tokenized Exchange Fund Bills. EnsembleTX was first introduced in November 2025 to test tokenized deposits and digital assets, including corporate treasury management and tokenized money market funds. HSBC has also launched its RedCoin stablecoin through PayMe.