The Weekly Brief
HKMA advances Ensemble TX to 24/7 real-value tokenised transactions and will soon add regulated stablecoins to its trials
1 quote-verified item · 1 from regulators and central banks · 1 jurisdiction (APAC)
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HKMA advances Ensemble TX to 24/7 real-value tokenised transactions and will soon add regulated stablecoins to its trialsTue 03
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Regulator / central bankBank / FMI
Lead
T1Regulator · Hong Kong Monetary Authority
FactThe Hong Kong Monetary Authority said on 2 November 2026, at Hong Kong FinTech Week, that it has advanced Ensemble TX to a new stage enabling 24/7 real-value transactions, and has completed trial trades in which Recognised Dealers conducted secondary market transactions of tokenised Exchange Fund Bills; it said it will soon expand the trials to include regulated stablecoins. With Cyberport, the HKMA launched tConnect Launchpad to explore and validate tokenisation use cases. The same release announced Project SAGE on agentic finance, a post-quantum cryptography (PQC) toolkit for banks, and a Faster Payment System link with UnionPay International by the end of this year.
Why it mattersThe HKMA presents round-the-clock real-value settlement on Ensemble TX as a way for banks and their clients to run treasury management, global fund allocation and tokenised portfolio management outside business hours, and it plans to bring regulated stablecoins into the same trials where Recognised Dealers already trade tokenised Exchange Fund Bills.
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