HKMA collaborates with Brazil’s central bank and Thailand’s central bank on cross-border tokenization project

the Hong Kong Monetary Authority announced today that it will cooperate with the Central Bank of Brazil to conduct cross-border tokenization experiments under the Ensemble project and Drex pilot program. The experimental central bank digital currency (CBDC) infrastructure of both parties (i.e. Ensemble Sandbox and Drex Test Platform) will be connected to explore the use cases of cross-border synchronous settlement (PvP) and delivery versus payment (DvP) settlement in trade financing and voluntary emission reduction (carbon credit) fields. On the same day, the Hong Kong Monetary Authority announced that it will cooperate with the Central Bank of Thailand to jointly explore cross-border tokenization use cases under the Ensemble project and San project.