Hong Kong Expands 24/7 Tokenized Deposit Settlement With 12 Banks
Key Facts
Hong Kong’s Monetary Authority said on Nov. 2 that the EnsembleTX platform had begun supporting interbank settlement of tokenized deposit transactions using tokenized central bank money around the clock. The update enables 24/7 settlement, according to the authority’s statement. The number of participating banks on the platform rose to 12, while participating industry players increased to 20. The authority said the numbers of banks and industry players had risen to these levels, respectively. The change places tokenized deposit settlement within an operational infrastructure that runs throughout the week, rather than being limited to regular business hours.
EnsembleTX was launched in November 2025 and began using the Hong Kong dollar real-time gross settlement system to settle interbank tokenized deposit transactions. The platform’s move to settlement using tokenized central bank money marks a new step in its development since launch. The move comes alongside Hong Kong’s trials of a broader digital infrastructure for financial assets. The Monetary Authority said it would soon expand EnsembleTX trials to include regulated stablecoins. The authority did not specify a date for the start of those trials in its statement.
On gold, the Hong Kong government said in October that the central clearing and settlement system for over-the-counter gold transactions had begun pilot operations. The system includes a centralized digital ledger to record settlement activity and is linked to designated vaults to record deposits and withdrawals of physical gold. Financial Services and the Treasury Secretary Christopher Hui said the system would be linked to the real-time gross settlement system before its targeted official launch in the first quarter of 2027. The link aims to enable settlement versus delivery, according to Hui. Work on the system is part of the city’s efforts to develop unified infrastructure for gold trading, clearing and reserves.
The Hong Kong government aims to exceed gold storage capacity of 2,000 tons within three years of its announcement on Jan. 26, 2026, as part of efforts to make the city a global gold vault. Hui said in January that the metal’s strategic importance had grown amid rising geopolitical uncertainty, inflationary pressures and the reshaping of the international monetary system. The city’s 2026 policy also calls for improving the regulatory framework to facilitate the issuance and trading of tokenized gold products on licensed platforms. In October, Hui said the HAU index displays indicative buying and selling prices contributed by gold market participants. He added that the index’s reference data are available through Bloomberg and the London Stock Exchange Group platforms.
In the market, spot gold closed at 3946.74 on Nov. 2, 2026. Earlier, Hong Kong gold contracts recorded a record level of physical delivery volumes, according to a story published by EL7 on Aug. 25. The developments bring together an expansion of tokenized asset settlement through banks and ongoing work on dedicated gold clearing infrastructure. The official launch of the central gold clearing system remains targeted for the first quarter of 2027, following completion of its link to the real-time settlement system. The Monetary Authority said EnsembleTX trials would soon expand to include regulated stablecoins.