Mr. Edmond Lau, Director of Financial Services and the Treasury of Hong Kong: Exploring more applications of compliant stablecoins in the digital finance sector.

Recently, the Financial Services and the Treasury Bureau of the Hong Kong Special Administrative Region Government stated that both licensed stablecoin issuers have participated in the central bank's digital currency and tokenized deposit related projects led by the Monetary Authority, with their partners including local telecommunications, payment, and digital asset companies. The Monetary Authority will continue to follow up, supervise institutions in implementing relevant application scenarios, and explore more applications for compliant stablecoins in the digital finance field, creating value for the real economy and financial activities. In addition, the Monetary Authority has set up an Ensemble project architecture working group to promote the establishment of local unified standards, achieve interoperability between central bank digital currencies, tokenized currencies, and tokenized assets, facilitate seamless flow of funds and assets within the tokenized ecosystem, and provide clear direction for industry development. Building on the outcomes of the Ensemble project sandbox pilot, the Monetary Authority launched the EnsembleTX platform in November last year, supporting real transactions of tokenized deposits and digital assets in a controlled pilot environment. In the initial stage, the platform focuses on promoting the use of tokenized deposits in tokenized currency fund transactions by market participants, enabling real-time management of liquidity and funding needs.