HONG KONG, Aug. 28, 2024 /PRNewswire/ -- The Hong Kong
Monetary Authority (HKMA) today announced the launch of the Project
Ensemble Sandbox (the Sandbox) and introduced four main themes of
tokenization use cases. Ant Digital Technologies has participated
in building the Tokenized Asset Platform within the Sandbox and
contributed to two main themes: "Green and sustainable finance" and
"Trade and supply chain finance".
Project Ensemble is the HKMA's new wholesale central bank
digital currency (wCBDC) project to support the development of the
tokenization market in Hong Kong.
The project was officially launched in March
2024. Ant Digital Technologies is among the first batch of
participants in the private sector and the founding member of
the Ensemble Architecture Community. The Sandbox is at the
core of Project Ensemble, aiming to further research and test
tokenization use cases that include, among others, settlement of
tokenized monies and tokenized real-world assets.
Under Project Ensemble, Ant Digital Technologies has
participated in building the Tokenised Asset Platform within the
Sandbox. This platform offers asset tokenization services and
facilitates Delivery-versus-Payment (DvP) transactions for
Traditional Assets (TA) and Tokenized Deposits (TD). It supports
transactions between accounts within the same bank as well as
cross-bank transactions.
The use cases supported by Ant Digital technologies areļ¼
- Green and sustainable finance
Leveraging blockchain and Internet of Things (IoT) technologies
from Ant Digital Technologies, the real-time operational status of
physical assets can be recorded and securely uploaded to the
blockchain. This transparency enhances asset valuation and enables
multiple stakeholders to assess value and manage risk
collaboratively, which will ultimately improve financing efficiency
and accessibility.
Shenzhen-listed Longshine
Technology Group, a new energy company, has digitized over 9,000 of
its charging piles as Real World Assets (RWAs) with the support of
Ant Digital Technologies and Project Ensemble. Subsequently, the
company has successfully secured its first cross-border financing
for RWAs in Hong Kong, propelling
the rapid growth of its renewable energy business.
- Trade and supply chain finance
Through Ant Digital Technologies' tokenised asset platform and the
electronic Bill of Lading (eBL), an important trade document of
title, issued over Global Shipping Business Network (GSBN), HSBC,
Hang Seng Bank, and Bank of China
(Hong Kong) facilitated the use of
tokenized deposits to settle the transfer of an eBL. This
transaction was conducted via the Sandbox.
Zhao Wenbiao, the Chief Executive Officer of Ant Digital
Technologies, joined the launch event. "We are honored to be among
the first batch of participants of the Project Ensemble. We are
grateful to the Hong Kong Monetary Authority and the Securities and
Futures Commission for their innovative approach and vision, which
have enabled us to explore various innovative projects. Looking
ahead, we hope to provide support to more RWA projects, especially
in the new energy sector, both in China and globally. We also welcome partners
to explore more use cases in the real economy with us," said
Zhao.
Ant Digital Technologies is a technology subsidiary of Ant
Group. Its blockchain business originated in 2015, and it has
continued to lead the industry. In 2023, Ant Digital Technologies
officially launched its Web3 products and services brand, ZAN. In
the same year, the revenue from its international business
operations increased by 300%.
About Ant Digital Technologies
Ant Digital Technologies is Ant Group's digital technology
subsidiary. Ant Digital Technologies continues to promote the
development and application of digital technologies, introducing
leading products like ZOLOZ, mPaaS and ZAN based on its expertise
in AI, privacy computing, and security technology. Ant Digital
Technologies is committed to working with partners across different
industries to support small and medium-sized financial institutions
in their digital transformation, enable SMEs in the service
industry to operate digitally, and facilitate digital collaboration
across industries. Revenue from Ant Digital Technologies'
international business operation increased by 300% in 2023.
About ZAN
As a technology brand of Ant Digital Technologies for Web3
products and services, and powered by AntChain Open Labs' TrustBase
open-source technical stack, ZAN provides rich and
reliable services for business innovations and a development
platform for Web3 endeavors. The ZAN product family includes ZAN
eKYC, ZAN KYT, ZAN Smart Contract
Review, ZAN Node Service, with more products being on the way.
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SOURCE Ant Digital Technologies