Odaily Planet Daily News đ HSBC announced that it has become one of the first financial institutions to explore use cases in the Ensemble project led by the Hong Kong Monetary Authority and has successfully completed the proof-of-concept. The initial focus of the Ensemble project is to establish a mechanism for interbank settlement of tokenized deposits through wholesale central bank digital currency (wCBDC), aiming to improve the smoothness of the settlement process and promote the settlement of tokenized assets.
At present, the project has completed three proof-of-concept use cases, demonstrating the mutual conversion of tokenized deposits and digital assets, and the feasibility of transferring deposit tokens to different financial institutions' blockchains. HSBC Hong Kong CEO Lin Huihong said that HSBC is very happy to participate in the Ensemble project and support the project to develop new financial market infrastructure and thereby innovate asset and money trading models. HSBC will continue to work with the HKMA and members of the Ensemble project architecture working group to promote Hong Kong to become a new generation of international digital assets and currency center. đ
