IFC and Citi expand trade finance for emerging markets, Hong Kong advances 24/7 tokenised settlement

The Hong Kong Monetary Authority (HKMA) significantly advanced Real World Asset (RWA) tokenization by enabling 24/7 interbank settlement of tokenized deposits within its EnsembleTX pilot, now involving 12 banks and 20 industry pioneers. This upgrade allows settlement in tokenized central bank money outside conventional operating hours, reducing timing differences for tokenized asset transfers. Concurrently, Standard Chartered launched its Tokenised Deposits service for Hong Kong corporate clients, with China AMC, Finloop, and PantherTrade executing live transactions on EnsembleTX. Separately, HSBC, Franklin Templeton, Tradeweb, and Fireblocks completed a corporate treasury pilot with Uber using the Canton Network. This pilot demonstrated the ability to purchase and liquidate Franklin Templeton tokenized money-market fund shares via HSBC Tokenised Deposits, including over weekends. These developments are crucial for the RWA market as they enhance liquidity and efficiency by providing round-the-clock access to invested funds and streamlining interbank settlement. They directly address long-standing timing constraints in traditional finance, paving the way for more dynamic and accessible tokenized financial products.