24-Hour Settlement Added to Hong Kong Tokenized Deposits; 12 Banks Participate

Hong Kong Monetary Authority (HKMA) has added 24-hour interbank settlement support for tokenized deposit transactions to its pilot program, with 12 banks participating and 20 industry-leading participants involved. Announced on the 2nd, the new feature enables Project Ensemble's pilot phase, EnsembleTX, to support around-the-clock settlement through tokenized central bank money (CeBM), allowing participating institutions to settle tokenized transactions outside normal operating hours. Tokenized deposits represent bank deposits in digital token form, while tokenized central bank money serves as the settlement medium, with tokenized deposits acting as the transaction object in this structure. The move matters because it extends Hong Kong's tokenization infrastructure beyond traditional banking hours, supporting continuous settlement for digital asset markets. Watch for expansion of the participant roster and further development of the EnsembleTX settlement architecture.