Hong Kong Aims for 24/7 CBDC Settlement by End of 2026

Hong Kong is planning to introduce 24/7 central bank digital currency (CBDC) settlement for tokenized deposits by the end of 2026. This move aims to provide banks with access to tokenized central bank money for settlement beyond conventional payment infrastructure hours.

The Hong Kong Monetary Authority (HKMA) has been testing EnsembleTX, a pilot phase of Project Ensemble, which involves real-value transactions using digital assets and tokenized deposits. The authority plans to progressively upgrade the pilot environment to support 24/7 settlement in tokenized central bank money.

The HKMA is also exploring regulated stablecoins for settling tokenized money market funds, with Anchorpoint Financial's HKDAP already offering a live institutional example. Standard Chartered has become the first bank distributor of HKDAP and plans to introduce subscription and settlement services for tokenized money market funds in the fourth quarter of 2026.

Additionally, the HKMA is preparing tests involving more than HK$1.3 trillion worth of Exchange Fund Bills before the end of 2026. These tests aim to examine the operation of tokenized Exchange Fund Bills and how banks can use them around the clock for asset and liability management.