Hong Kong Monetary Authority Launches Ensemble Project Sandbox

According to Foresight News, the Hong Kong Monetary Authority (HKMA) has officially launched the sandbox for the Ensemble Project. The initial phase of the project will focus on four major tokenized asset use cases. The HKMA has completed the construction of the sandbox, which aims to utilize experimental tokenized currency to facilitate interbank settlements and concentrate on the trading of tokenized assets. The participating banks in the Ensemble Project Working Group have connected their tokenized deposit platforms to the sandbox. This connection is a preparatory step for future experiments involving synchronized cross-bank payments and delivery-versus-payment settlements.