The Hong Kong Monetary Authority (HKMA) has initiated the pilot phase of its Ensemble project, aiming to facilitate real-world transactions using tokenized deposits and digital assets. This phase, which will run until 2026, represents a significant advancement in Hong Kong's digital asset landscape. Initially, interbank settlements of tokenized deposit transactions will be processed through the Hong Kong Dollar Real-Time Payments Settlement System (RTGS). The pilot environment will undergo gradual upgrades to enable 24/7 settlement of tokenized central bank currency, fostering the development of a comprehensive tokenized ecosystem in Hong Kong. This initiative underscores HKMA's commitment to advancing financial innovation and digital asset integration.