Hong Kong to Launch Wholesale CBDC for Interbank Payments by Year-End

Hong Kong's Monetary Authority is advancing plans to implement a wholesale central bank digital currency (CBDC) for interbank tokenized transaction settlements by the end of this year. The system aims to process payments for tokenized deposits and digital asset trading around the clock. According to policy documents released on 16th, the Monetary Authority intends to complete EnsembleTX's CBDC settlement framework and 24-hour operational system by late 2024. EnsembleTX represents the live-trading pilot phase of Project Ensemble, which began in November 2025. Hong Kong Exchange and the Monetary Authority also announced a trial using the wholesale CBDC for prepayment margin settlements on derivative markets after market close, following June's announcement. The exchange noted that scaling up these trials depends on regulatory approvals and market readiness.