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HKMA Forms Project Ensemble Architecture Community, Focusing on Tokenised Asset Transactions
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The Hong Kong Monetary Authority (HKMA) today (7 May) announced the establishment of the Project Ensemble Architecture Community. The Community aims to develop a set of industry standards to support interoperability among wholesale CBDC (wCBDC), tokenised money and tokenised assets. It will make recommendations on specific topics, initially focusing on setting up a mechanism to support seamless interbank settlement of tokenised deposits through wCBDC for tokenised asset transactions. The Community will also assist in the design and implementation of the Project Ensemble Sandbox, which is targeted to launch by around mid-2024 to facilitate further research and testing of tokenisation use cases. The Community comprises a diverse spectrum of industry representatives across multiple domains covering regulators, international organisations, academia, local and multinational banks, key players in the digital asset industry and technology companies. Initially, it will consist of the HKMA, the SFC, the BIS Innovation Hub Hong Kong Centre, the CBDC Expert Group, BOC HONG KONG (02388.HK), HANG SENG BANK (00011.HK), HSBC, Standard Chartered Hong Kong, HashKey Group, Ant Digital Technologies and Microsoft Hong Kong. AAStocks Financial News |
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