Hong Kong has completed the first interbank transaction under the Hong Kong Monetary Authority’s Project EnsembleTX that combines tokenized gold with tokenized deposits, according to remarks made by Secretary for Financial Services and the Treasury Christopher Hui at a Hong Kong FinTech Week panel, as reported by Wen Wei Po. In the structure disclosed, each gold token represents one standard 400-ounce gold bar, held on an allocated basis in a vault in Hong Kong and referenced to the Hong Kong Gold Benchmark Price, or HAU. The Financial Services and the Treasury Bureau said the deal is the first real interbank use case since Project Ensemble entered the EnsembleTX pilot phase in November 2025 to connect tokenized deposits and tokenized gold within a single transaction. Hui also said authorities are drafting legislative proposals for a regulatory regime covering virtual asset trading, custody, advisory and management services, with a bill targeted for submission to the Legislative Council within this year. He also announced a new Blockchain and Digital Assets Pilot Funding Scheme 2.0 with support of up to 80% per approved project, capped at HK$500,000, with applications open until Dec. 31, 2026.
Hong Kong has completed the first interbank transaction under the Hong Kong Monetary Authority’s Project EnsembleTX that links tokenized gold with tokenized deposits, Secretary for Financial Services and the Treasury Christopher Hui said during a thematic panel at Hong Kong FinTech Week, according to Wen Wei Po.
Each gold token represents one standard 400-ounce gold bar. The bars are stored on an allocated basis in a vault in Hong Kong, and the arrangement references the Hong Kong Gold Benchmark Price, or HAU.
First interbank real-world use case under EnsembleTX
The Financial Services and the Treasury Bureau said this is the first real interbank use case since Project Ensemble entered the EnsembleTX pilot phase in November 2025 to connect tokenized deposits and tokenized gold within the same transaction.
The bureau said the transaction also links the development of Hong Kong’s international gold trading center with the tokenized deposit infrastructure being built by the HKMA.
Hui said tokenization has opened a new chapter for gold.
Legislative work and funding support move ahead
Hui also said authorities are preparing legislative proposals for a regulatory regime covering virtual asset trading, custody, advisory services and management services. The target is to submit a bill to the Legislative Council within this year.
He also announced that the bureau and Cyberport are launching the Blockchain and Digital Assets Pilot Funding Scheme 2.0. Each approved project can receive funding for up to 80% of eligible support, capped at HK$500,000. The application deadline is Dec. 31, 2026.
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