Ant Digital Technologies announces today its participation in the Project Ensemble Sandbox and the Project Ensemble Architecture Community of the Hong Kong Monetary Authority (HKMA).

Project Ensemble is the HKMA’s new wholesale central bank digital currency (wCBDC) project to render support to the development of the tokenization market in Hong Kong. The Sandbox is at the core of Project Ensemble, aiming to further research and test tokenization use cases that include, among others, settlement of tokenized monies and tokenized real-world assets.

To help set industry standards and a future-proof strategy, the HKMA also formed the Community consisting of local and multinational banks, key players in the digital asset industry, technology companies, academia, international organizations, and regulators.

Ant Digital Technologies will join the future experiments and exploration in the Sandbox, and will also be a part of the Community.

“We are honored to be a part of Project Ensemble, and we are excited to contribute our expertise and products to the project. We are particularly impressed by the HKMA’s innovative approach and vision for the development of the tokenization market. We look forward to working closely with the HKMA and other project members as we embark on this exciting journey together, building the digital infrastructure that will shape the future of the industry,” said Hui Zhang, Vice President of Ant Digital Technologies.

Ant Digital Technologies products and solutions have been adopted by customers from a variety of industries. In 2023, the revenue from its international business operation has increased by 300%.