The Hong Kong Monetary Authority (HKMA) has advanced its Ensemble TX initiative to a new stage, achieving round-the-clock real-value transactions in tokenised deposits. The regulator plans to extend the pilot scope to regulated stablecoins as part of its ongoing digital asset infrastructure development. In parallel, the HKMA completed a secondary-market pilot transaction in tokenised Exchange Fund Bills conducted by an approved dealer. The authority also launched tConnect Launchpad in partnership with Cyberport to explore and validate additional tokenisation use cases.