Hong Kong Securities and Futures Commission: A financial institution participating in the Ensemble Project Sandbox has completed its first simulation test

Odaily News According to the official announcement of the Hong Kong Securities and Futures Commission, a financial institution participating in the Ensemble project sandbox has successfully completed a pioneering simulation test in the sandbox environment, involving the trading and buying and selling process of tokenized money market funds using tokenized deposits. It is reported that the financial institution (a local bank) cooperated with the asset management department and the trustee business department, and successfully completed the simulation test of delivery-versus-payment settlement of tokenized money market funds using tokenized deposits in the sandbox, covering the subscription, redemption and sale of tokenized fund orders by institutional clients, and the use of tokenized deposits for cross-bank settlement of tokenized fund units. This move aims to further explore the foundation for 24/7 instant settlement of tokenized funds and currencies in actual business scenarios, and this settlement model is expected to improve operational efficiency, reduce costs, and attract international investors from different time zones.