Euroclear is pleased to announce its participation in the Hong Kong Monetary Authority’s (HKMA) Project Ensemble.
Project Ensemble, launched in March 2024, is a HKMA initiative aimed at fostering and “shaping the tokenization ecosystem in Hong Kong.”
This project brings together professionals and industry veterans to collaboratively “design, test and implement a robust framework for tokenization” in Hong Kong.
As an Architecture Community member, Euroclear will immediately contribute by developing “a set of industry standards to support interoperability amongst central bank money, tokenized money and tokenised assets.”
This collab with the HKMA aligns “with Euroclear’s Asia and innovation strategies.”
It strengthens relationships with industry professionals in the region while driving new “opportunities for market expansion.”
At the same time, it fosters a more integrated and regulated digital asset ecosystem, supporting the “development of innovative products and services that contribute to the growth of the tokenised economy.”
Nelson Chow, Executive Director for Financial Infrastructure of the HKMA said:
“Hong Kong’s position as an international financial centre is reinforced by its world-class financial market infrastructure, which has established the city as a super-connector between the mainland and the rest of the world. Our long-standing partnership with Euroclear, spanning over 20 years, has significantly enhanced both our infrastructure and connectivity. We are excited to further advance this collaboration as we transition into the era of digitalisation and tokenisation.”
Philippe Laurensy, CEO Asia Pacific Euroclear added:
“Euroclear’s participation in Project Ensemble is a testament to our strategic focus on the Asia-Pacific region. By collaborating with key stakeholders in the Hong Kong tokenisation market, we are exploring new opportunities for innovation and market growth. This initiative will allow us to harness cutting edge technology to develop solutions that benefit the marketplace by fostering a more interconnected financial ecosystem.”
As covered, Euroclear group is the financial industry’s “provider of post trade services.”
Guided by its purpose, Euroclear innovates to bring “safety, efficiency and connections to financial markets for sustainable economic growth.”
Euroclear provides settlement and custody of “domestic and cross-border securities for bonds, equities and derivatives and investment funds.”
As a “resilient” capital market infrastructure, Euroclear notes that it is committed to delivering “risk-mitigation, automation and efficiency at scale for its global client franchise.”
The Euroclear group “comprises Euroclear Bank, the International CSD, as well as Euroclear Belgium, Euroclear Finland, Euroclear France, Euroclear Nederland, Euroclear Sweden, Euroclear UK & International.”