Hong Kong's Chief Executive has announced in the 2025 Policy Address that the Hong Kong Monetary Authority (HKMA) will continue to advance the Ensemble project. This includes encouraging commercial banks to introduce tokenized deposits and facilitating real tokenized asset transactions, such as settling tokenized money market funds with tokenized deposits. Additionally, the government aims to regularize the issuance of tokenized bonds and will use regulatory sandboxes to encourage banks to enhance risk management practices.