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Today the Hong Kong Monetary Authority (HKMA) launched the Project Ensemble Sandbox to support institutional experimentation with tokenization, both traditional securities and real world assets (RWA). The initiative also involves an experimental wholesale CBDC (wCBDC) to enable interbank settlement between the tokenized deposits of banks.

Four banks are providing the tokenized deposits: HSBC, Standard Chartered (Hong Kong), Bank of China (Hong Kong) and Hang Seng Bank. Other direct participants are Microsoft Hong Kong, Ant Digital Technologies (ADT) and Hashkey Group.

The Securities and Futures Commission (SFC) is partnering with HKMA for one of the four trial categories relating to fixed income and funds, where BlackRock and Franklin Templeton are amongst the ‘non community’ participants.

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