Today the HKMA launches the Project Ensemble Sandbox (the Sandbox) 🚀 - marking a significant step forward in the advancement of tokenisation in real-world application within the financial sector.
We’re excited to announce that we have completed the building and setup of the Sandbox, which is designed to facilitate interbank settlement. Using experimental tokenised money and focusing on transactions involving tokenised assets, the Sandbox enables experiments for both payment-versus-payment and delivery-versus-payment use cases. We're proud to have assembled a diverse group of industry participants from the financial and technology sectors to participate in the initiative.
At today’s launch ceremony, Eddie Yue, Chief Executive of the HKMA, and Julia Leung, Chief Executive Officer of the Securities and Futures Commission (SFC) delivered opening remarks to inaugurate the occasion, joined by industry experts.
Eddie Yue said, “Since the launch of Project Ensemble in March, we have been encouraged by the strong interest from the industry in pioneering innovative solutions to redefine the digital finance landscape." He also outlined a collaborative vision for the future, emphasising partnerships with the SFC, other central banking institutions, academia, and industry stakeholders to further drive innovation and progress in the Hong Kong tokenisation market.
To support the sustainable development of the tokenised asset market in Hong Kong, an appropriate regulatory framework is essential. The HKMA and the SFC share a common vision to foster the sustainable growth of the tokenised asset market in Hong Kong, with the aim to ultimately enhance Hong Kong’s position as an international financial centre and a premier asset and wealth management centre.
In our next post, we will explore the four main themes of asset tokenisation use cases in detail – stay tuned!
Learn more about the Sandbox: https://lnkd.in/gaSyKQZp
View the full list of our industry participants: https://lnkd.in/gTc4rHdS
#HKMAinnovates #ProjectEnsemble #CBDC #wCBDC #Sandbox #DigitalPayment #Fintech #TokenisingTogether