HONG KONG—The Hong Kong Monetary Authority (HKMA) has unveiled :Project Ensemble,” which includes a new wholesale central bank digital currency, Ledger Insights reported.
“It will provide a sandbox to enable interoperability between the CBDC, tokenized deposits and tokenized assets,” Ledger Insights reported.
This month the HKMA also announced the creation of an Architecture Community for the project. In addition to regulators and the existing academic CBDC expert group, it includes seven private sector companies, Ledger Insights said, including four banks: Bank of China (Hong Kong), Hang Seng Bank, HSBC and Standard Chartered Hong Kong—in addition to Hashkey Group, Ant Digital Technologies and Microsoft Hong Kong, Ledger Insights said.
According to the report, the first task of the Architecture Community is to make recommendations about using the wholesale CBDC for interbank settlement of tokenized deposits. The second initiative is the design and implementation of the sandbox which will launch mid-year, Ledger Insights said.
In addition to the HKMA, the regulators participating in the Community include the Securities Futures Commission and the BIS Innovation Hub Hong Kong, the report stated.
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