Hong Kong launches Project Ensemble, a wholesale CBDC and tokenized deposit initiative

The Hong Kong government has announced Project Ensemble, an initiative to test the functionality of a wholesale central bank digital currency (WCBDC) and the movement of tokenized deposits. If there is ‘sufficient interest’ in the project, the Hong Kong Monetary Authority (HKMA) plans to conduct real-time issuance of WCBDC in the future. (…)