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Hong Kong Plans Wholesale CBDC Launch by Year-End to Support Tokenized Government Bond Settlement

OdailyOdaily

Odaily News: The Hong Kong Monetary Authority plans to launch a wholesale central bank digital currency for interbank settlement by the end of this year, as part of Project EnsembleTX, to enable 24-hour settlement of tokenized deposit transactions.

The project entered a real-transaction pilot phase in late 2025. Currently, cross-bank settlement still relies on a real-time gross settlement system that operates only during business hours; the wholesale CBDC is also planned for use in settling derivatives trades during off-hours on the Hong Kong Stock Exchange, with real-money transactions targeted to be implemented within this year.

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