PANews reported on October 29 that according to an official announcement from the Securities and Futures Commission of Hong Kong, a financial institution participating in the Ensemble project sandbox successfully completed a pioneering simulation test in the sandbox environment, involving the trading and buying and selling processes of tokenized money market funds using tokenized deposits.
It is reported that the financial institution (a local bank) cooperated with the asset management department and the trustee business department, and successfully completed the simulation test of delivery-versus-payment settlement of tokenized money market funds using tokenized deposits in the sandbox, covering the subscription, redemption and sale of tokenized fund orders by institutional customers, and the use of tokenized deposits for cross-bank settlement of tokenized fund units. This move aims to further explore the foundation for 24/7 instant delivery of tokenized funds and currencies in actual business scenarios, and this delivery model is expected to improve operational efficiency, reduce costs, and attract international investors from different time zones.
Earlier today, it was reported that OSL participated in the HKMA's Ensemble project and worked with Franklin Templeton on a proof of concept ; OSL and China Asset Management jointly launched a tokenized fund project trial for Hong Kong retail investors in the Ensemble project .
