Hong Kong Launches Wholesale CBDC Project for Tokenized Bank Deposits
• Hong Kong central bank announced start of wholesale CBDC project called Project Ensemble to support tokenization • Project will support interbank settlement of tokenized money through wholesale CBDC (wCBDC) • Initial focus on tokenized deposits • In Oct 2023, HKMA said retail CBDC could add unique value but more investigation needed before e-HKD decision • This is a developing story