PANews reported on August 28 that according to official news, the Hong Kong Monetary Authority held a sandbox launch ceremony for the Ensemble project today and announced that the first phase of the sandbox trial will cover the tokenization of traditional financial assets and real-world assets, and focus on four major themes: fixed income and investment funds, liquidity management, green and sustainable finance, and trade and supply chain financing. At the international level, the HKMA will also explore opportunities for cooperation with the Hong Kong Center under the Bank for International Settlements Innovation Hub on one or more tokenization topics, and work with members of the CBDC Expert Group to use their expertise to further promote the development of the sandbox.
Mr Eddie Yue, Chief Executive of the HKMA, said: “The launch of the Project Ensemble sandbox to test tokenisation use cases marks an important step for the HKMA and the industry in exploring the application of tokenisation technology in real business scenarios. Since the launch of Project Ensemble in March this year, the industry has responded positively to the exploration of innovative solutions to reshape the digital financial sector. The HKMA looks forward to working with the SFC, other central banks, academia and relevant industry players in the future to further promote the innovative development of Hong Kong’s tokenisation market.”
SFC Chief Executive Officer Fung Yee Leung said: “The launch of the Sandbox today demonstrates how innovation and regulation, when combined, can open up new paths for our financial markets. As two of the two major builders of Hong Kong’s financial markets, the SFC and the HKMA share the same vision and are committed to leading Hong Kong’s financial system into the future through innovative market infrastructure.”
