HSBC announced that it has become one of the first Financial Institution Groups to explore use cases under the Ensemble project led by the Hong Kong Monetary Authority, and completed a Proof-of-Concept on the use cases. The Ensemble project initially focused on establishing a mechanism to conduct interbank settlement of tokenized deposits through wholesale-level central bank digital currency (wCBDC), in order to enhance the smoothness of the process and facilitate the settlement of tokenized assets. Three proof-of-concept use cases have been completed to demonstrate the feasibility of converting tokenized deposits and digital assets, and transferring deposit tokens to different Financial Institution Groups blockchains. The Chief Executive Officer of HSBC Hong Kong, Anna Lam, said that she was very pleased to be able to apply to the Ensemble project to support the project to explore the development of new financial marekt infrastructure, and to use this to revolutionize the mode of asset and money transactions. HSBC will continue to work with the HKMA and members of the Ensemble project framework working group to promote Hong Kong as a new generation of international digital assets and money center.