The Hong Kong Monetary Authority collaborates with the Central Bank of Brazil and the Bank of Thailand on cross-border tokenization projects

The Hong Kong Monetary Authority today announced that it is partnering with the Central Bank of Brazil to conduct a cross-border tokenization trial under the Ensemble project and the Drex pilot scheme. The two sides' experimental central bank digital currency (CBDC) infrastructure, namely the Ensemble sandbox and the Drex pilot platform, will be connected to explore the use cases of cross-border simultaneous settlement (PvP) and DvP settlement in areas such as trade finance and voluntary emission reduction (carbon credit). On the same day, the Hong Kong Monetary Authority announced a partnership with the Bank of Thailand to jointly explore cross-border tokenization use cases under the Ensemble project and the San project.