HKMA Project Ensemble is a sandbox initiative by the Hong Kong Monetary Authority designed to advance the development of tokenized money and digital asset settlement infrastructure. The project explored how wholesale CBDC frameworks could enable interoperable, efficient interbank settlement across participating financial institutions.
The initiative needed to demonstrate interoperability between multiple blockchain networks operated by different institutions, and validate that tokenized deposits could serve as the cash leg for both Payment vs Payment and Delivery vs Payment settlement workflows within a regulated sandbox environment.
Kaleido supported HSBC in configuring and deploying Hyperledger Besu within HSBC's internal cloud environment and facilitated the software installation required for sandbox participation. The solution featured PvP settlement across Besu networks involving HSBC, HKMA, and Hang Seng Bank, and DvP between HSBC's Orion bond platform and its internal tokenized deposit network.
