The Hong Kong Monetary Authority (HKMA) officially launched Project Ensemble to explore the tokenization of assets and the use of a wCBDC for settlement.

The HKMA launched the Project Ensemble Sandbox, a controlled environment for industry participants to test tokenization use cases.

Project Ensemble advanced to its pilot phase, Ensemble TX, shifting from experimentation to conducting real-value transactions in a controlled environment.

An MoU was signed with Shanghai authorities to develop a shared blockchain platform for cross-border trade finance, a key initiative under Project Ensemble.