Hong Kong expands tokenized settlement to 24/7 and readies stablecoin trials
The HKMA said the upgrade adds 12 banks and will let tokenized central bank money settle round‑the‑clock, while HSBC's RedCoin stablecoin hits 50,000 users.
Key takeaways
- 112 banks and 20 industry pioneers joined the EnsembleTX upgrade
- 224/7 settlement now possible for tokenized deposits
- 3HSBC's RedCoin stablecoin reached 50,000 users
- 4More than 3.3 million PayMe customers can activate RedCoin wallets
- 5Project Ensemble launched in March 2024 and entered real‑value trials in November 2025
On 2 November 2026 the Hong Kong Monetary Authority announced that its EnsembleTX pilot now supports 24‑hour settlement of tokenized deposits, adding 12 participating banks and 20 industry pioneers.
The upgrade lets banks settle transactions using tokenized central bank money outside the traditional Real‑Time Gross Settlement window, the HKMA said.
Project Ensemble, launched in March 2024, originally tested tokenised deposits in a sandbox before moving to real‑value trials in November 2025 that were limited to standard banking hours.
The regulator also said the next testing stage will involve regulated stablecoins in tokenised government‑debt trials, while HSBC reported its RedCoin stablecoin has reached 50,000 users and can be accessed by more than 3.3 million PayMe customers.
SFC chief executive Julia Leung welcomed the infrastructure, noting it could support corporate treasury management and secondary trading of tokenised funds; Standard Chartered similarly announced its own 24/7 tokenised‑deposit service.
The HKMA did not give a timeline for wider rollout, but said banks will continue to use the platform to move funds globally and manage tokenised investments around the clock.
Also reported by
Reported and edited by the YourKhabri desk under our editorial policy. Nothing here is investment advice.