Encouraging progress made in asset management pilot use case in the Project Ensemble Sandbox

The Securities and Futures Commission (SFC) has announced a significant advancement in asset management with the successful simulation of a tokenized money market fund (MMF) by a local bank participating in the Project Ensemble Sandbox. This pilot involved the delivery-versus-payment settlement of tokenized deposits, covering subscription, redemption, and trading for institutional clients. It aims to enhance operational efficiency and appeal to global investors by exploring 24/7 atomic settlement. The SFC, in collaboration with the Hong Kong Monetary Authority, is dedicated to fostering a robust tokenization ecosystem in Hong Kong and is actively engaging with asset managers to support product launches.

Resources: https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=24PR182