SCBHK Completes Real-Value Transactions in HKMA’s Project Ensemble Pilot

Standard Chartered Bank (Hong Kong) Limited (SCBHK) has successfully completed two real-value transaction use cases in Ensemble, the pilot phase of Project Ensemble launched by the Hong Kong Monetary Authority (HKMA), marking a significant milestone in the development of a comprehensive tokenisation ecosystem in Hong Kong.

SCBHK is in Project Ensemble since its launch in March 2024, participating in use case testing across all four main streams of the HKMA’s sandbox. Today, the bank is officially recognized as one of the first Tokenised Deposit Banks in Ensemble, underscoring its commitment to fostering the growth of Hong Kong’s tokenisation market.

SCBHK Completes Real-Value Transactions in HKMA’s Project Ensemble Pilot

During the pilot phase, leveraging Libeara, an SC Ventures-incubated tokenisation platform, SCBHK successfully completed two real-value transaction use cases:

• Facilitating interbank transfers of tokenised deposits among Ant International entities through its transaction banking services.
• Acting as custodian for China Asset Management (Hong Kong) Limited, receiving tokenised deposits from Bank of China (Hong Kong) to support Futu Securities International (Hong Kong) Limited in subscribing to ChinaAMC (HK)’s tokenised money market fund.

Mary Huen, CEO, Hong Kong and Greater China & North Asia, Standard Chartered, said:

“Standard Chartered is happy to become one of the first Tokenised Deposit Banks in Ensemble, supporting the building of a vibrant tokenisation market in Hong Kong, as part of the HKMA’s ‘Fintech 2030’ vision. The success of these real-value transactions demonstrates the potential of tokenised assets in enabling seamless interbank settlements and highlights their role in the next generation of financial market infrastructure. We will continue to collaborate with regulators, clients, and partners to incubate innovative use cases, including cross-border transactions, contributing to Hong Kong’s development as a global digital assets hub.”

Standard Chartered has consistently championed tokenisation in Hong Kong. Earlier this year, the bank supported ChinaAMC (HK) in launching the region’s first tokenised retail money market fund and completed a pilot study on tokenised fund settlement under Phase 2 of the HKMA’s e-HKD Pilot Programme alongside BlackRock and Mastercard.

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