Euroclear today announced its participation in the Hong Kong Monetary Authority’s (HKMA) Project Ensemble.

Project Ensemble, launched in March 2024, is an HKMA initiative aimed at fostering and shaping the tokenisation ecosystem in Hong Kong. This project brings together leading experts and industry pioneers to collaboratively design, test and implement a robust framework for tokenisation in Hong Kong.

As an Architecture Community member, Euroclear will immediately contribute by developing a set of industry standards to support interoperability amongst central bank money, tokenised money and tokenised assets.

This collaboration with the HKMA aligns equally with Euroclear’s Asia and innovation strategies. It strengthens relationships with industry leaders in the region while driving new opportunities for market expansion. At the same time, it fosters a more integrated and regulated digital asset ecosystem, supporting the development of innovative products and services that contribute to the growth of the tokenised economy.

Mr Nelson Chow, Executive Director for Financial Infrastructure of the HKMA said:

“Hong Kong’s position as an international financial centre is reinforced by its world-class financial market infrastructure, which has established the city as a super-connector between the mainland and the rest of the world. Our long-standing partnership with Euroclear, spanning over 20 years, has significantly enhanced both our infrastructure and connectivity. We are excited to further advance this collaboration as we transition into the era of digitalisation and tokenisation.”

Philippe Laurensy, CEO Asia Pacific Euroclear added:

“Euroclear’s participation in Project Ensemble is a testament to our strategic focus on the Asia-Pacific region. By collaborating with key stakeholders in the Hong Kong tokenisation market, we are exploring new opportunities for innovation and market growth. This initiative will allow us to harness cutting edge technology to develop solutions that benefit the marketplace by fostering a more interconnected financial ecosystem.”