Odaily Planet Daily News: The Hong Kong Monetary Authority (HKMA) has been connecting its tokenization-focused Ensemble project and showcasing new collaborative results. The Ensemble project is establishing links with the Drex pilot project of the Central Bank of Brazil (CBB) and the San project of the Bank of Thailand (BOT). The Central Bank of Brazil announced the second phase of its Drex CBDC pilot program in September and began accepting applications in mid-October. Tokenization is on the agenda for further testing of Drex. Cross-border PvP and DvP trade financing and carbon credit settlement use cases will be tested between Hong Kong and Brazil. The Hong Kong Monetary Authority noted that there are currently over 70 participants in the Drex project. PvP is a method for currency transaction settlement, while DvP is a method for securities settlement. The Hong Kong Monetary Authority will also test PvP and DvP settlement with the BOT. Trade payments and carbon credits will also become a focus of collaboration with the BOT, aiming to develop a proof of concept. (Cointelegraph)