HKMA and SFC Co-host Seminar to Promote Tokenisation Ecosystem Development and Expand Collaboration Opportunities under Project Ensemble

The HKMA and the SFC co-hosted a seminar on 11 November focused on Project Ensemble and tokenised SFC-authorised investment products. The seminar attracted around 200 financial industry participants to exchange views on promoting the development of Hong Kong's tokenisation ecosystem and to foster industry collaboration. The seminar, held at the SFC offices, coincided with a series of recent developments in Hong Kong's tokenisation ecosystem, including the recent world-first 24/7 secondary market trading of a publicly offered tokenised fund on a licensed virtual asset trading platform, and the introduction of new features under Ensemble TX to support 24/7 settlement of interbank tokenised deposits. Building on these latest developments, the seminar explored a number of topics, including: the opportunities that tokenisation brings to secondary market trading and corporate treasury management; enhancements to financial infrastructure supporting payments and liquidity management; the role of virtual asset trading platforms in facilitating tokenised fund trading and providing liquidity; and use cases that help accelerate the broader adoption of tokenised money and tokenised investment products. Christina Choi, Executive Director of the Investment Products Division at the SFC, said that Hong Kong's tokenisation development is moving from the experimental stage to commercial application, and that the focus of the next stage is to integrate tokenised investment products, digital money and financial infrastructure to achieve connectivity and drive practical application. She said that industry input and collaboration are key to charting the way forward and turning opportunities into real commercial applications. Eric Yau, Assistant Chief Executive (Financial Infrastructure) of the HKMA, said that with advanced financial market infrastructure and an increasingly diverse range of digital money options and tokenised investment products, Hong Kong is well positioned to seize the opportunities presented by the tokenisation era. These capabilities are important public assets supporting the sustainable development of the tokenisation ecosystem. The HKMA will continue to work closely with the SFC to foster a robust development environment and promote responsible innovation in the tokenisation space.