HKMA and SFC Co-Host Seminar to Advance Tokenisation in Hong Kong and Promote Collaborative Opportunities within Project Ensemble

HKMA and SFC co-host seminar to advance tokenisation in Hong Kong and promote collaborative opportunities within Project Ensemble

The following is issued on behalf of the Hong Kong Monetary Authority:

The Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) co-hosted a seminar on November 11 focusing on Project Ensemble and tokenised SFC-authorised investment products. Approximately 200 industry practitioners attended the event, where banks and industry pioneers shared their recent practical experience in tokenisation to foster further collaboration and advance Hong Kong's tokenisation ecosystem.

The seminar followed closely the HKMA announcement coincided with a major milestone during Hong Kong Fintech Week 2026 of a new chapter of EnsembleTX, which enables 24x7 interbank settlement of tokenised deposits. This development presented an opportune moment for industry participants to unlock new opportunities leveraging EnsembleTX. Meanwhile, these efforts are further bolstered by the SFC's approval of round-the-clock secondary trading for tokenised money market funds, allowing real-time investment and return optimisation by integrating tokenised deposits with investment products.

Looking ahead, Project Ensemble aims to expand the scale of transactions by introducing more impactful tokenisation use cases that deliver tangible benefits and support a sustainable tokenisation market. The HKMA will continue to work closely with the SFC and the industry to broaden the commercial applications of tokenised deposits to settle various types of tokenised investment products.

The Executive Director (Financial Infrastructure) of the HKMA, Mr Nelson Chow,said, "Hong Kong is well positioned to capitalise on the tokenisation era, driven by its advanced financial market infrastructure and an expanding array of digital money options and tokenised investment products. These capabilities serve as essential public utilities that future-proof our tokenisation ecosystem and support its continued development. The HKMA will continue to collaborate closely with the SFC to cultivate a robust environment that fosters responsible innovation in tokenisation."

The Executive Director (Investment Products) of the SFC, Ms Elisa Ng,said, "Tokenisation in Hong Kong is moving beyond experimentation towards commercialisation. The next stage is to generate traffic on these digital rails by connecting tokenised investment products, digital money and financial infrastructure. We are also encouraged by the strong turnout and stimulating discussions at the seminar. Industry insights and collaboration are crucial as we chart the way forward to translate these opportunities into practical commercial applications."

The Hong Kong Monetary Authority and the Securities and Futures Commission (SFC) co-hosted a seminar on November 11 focusing on Project Ensemble and tokenised SFC-authorised investment products. Approximately 200 industry practitioners attended the event, where banks and industry pioneers shared their recent experience in tokenisation to foster further collaboration. Source: HKSAR Government Press Releases

The Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) co-hosted a seminar on November 11 focusing on Project Ensemble and tokenised SFC-authorised investment products. Photo shows the Executive Director (Financial Infrastructure) of the HKMA, Mr Nelson Chow (right), and the Executive Director (Investment Products) of the SFC, Ms Elisa Ng (left), at the seminar. Source: HKSAR Government Press Releases

Hong Kong Customs detects smuggling case involving ocean-going vessel with suspected endangered species worth about $100 million seized

Hong Kong Customs detected a suspected smuggling case involving an ocean-going vessel on October 24. Large batches of suspected smuggled endangered species goods with a total estimated market value of about $100 million were seized.

Through intelligence analysis and risk assessment, Customs officers inspected four containers on October 24 that were scheduled to be shipped to Korea and declared as carrying seafood and, upon examination, found large batches of smuggled endangered species goods, including scheduled shark fins, shark skins, crocodile skins, sea dragons, mobula gill plates and sea cucumbers.

Investigations are ongoing. The likelihood of arrests is not ruled out.

Being a government department primarily responsible for tackling smuggling activities, Customs has long been combating various smuggling activities at the forefront. Customs will keep up its enforcement action and continue to resolutely combat sea smuggling activities through proactive risk management and intelligence-based enforcement strategies, and carry out targeted anti-smuggling operations at suitable times to crack down on relevant crimes.

Smuggling of scheduled endangered species is a serious offence. Under the Protection of Endangered Species of Animals and Plants Ordinance, anyone importing, exporting or possessing specimens of endangered species not in accordance with the Ordinance commits an offence and will be liable to a maximum fine of $10 million and imprisonment for 10 years upon conviction.

Members of the public may report any suspected smuggling activities to Customs' 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).

Hong Kong Customs detected a suspected smuggling case involving an ocean-going vessel on October 24. Large batches of suspected smuggled endangered species goods with a total estimated market value of about $100 million were seized. Photo shows some of the suspected scheduled crocodile skins seized. Source: HKSAR Government Press Releases

Hong Kong Customs detected a suspected smuggling case involving an ocean-going vessel on October 24. Large batches of suspected smuggled endangered species goods with a total estimated market value of about $100 million were seized. Photo shows some of the suspected scheduled shark fins seized. Source: HKSAR Government Press Releases

Hong Kong Customs detected a suspected smuggling case involving an ocean-going vessel on October 24. Large batches of suspected smuggled endangered species goods with a total estimated market value of about $100 million were seized. Photo shows some of the suspected smuggled endangered species goods seized. Source: HKSAR Government Press Releases