According to CoinDesk, Hong Kong's central bank has announced the launch of a wholesale central bank digital currency (wCBDC) project to support the development of the tokenization market. Named Project Ensemble, it aims to explore innovative financial market infrastructure (FMI) that will facilitate seamless interbank settlement of tokenized money through wCBDC. The initial focus of the project will be on tokenized deposits, as stated by the Hong Kong Monetary Authority (HKMA).
In October 2023, the HKMA mentioned that a retail CBDC could add unique value, but further investigation was required before making a decision to introduce an e-HKD. The development of Project Ensemble marks a significant step in the exploration of digital currency and its potential applications in the financial sector.