Hong Kong Monetary Authority announces two RWA practices of Ant Chain

Today, the Hong Kong Monetary Authority announced the progress of the Ensemble project (sandbox) in the first phase and provided detailed introductions to four major tokenization use cases.

In the Ensemble project, Ant Financial assisted the HKMA in building the tokenization asset platform in the sandbox, which provides asset tokenization services and promotes Delivery versus Payment (DvP) transactions for traditional assets and tokenized deposits, where both parties almost simultaneously deliver assets and funds, and supports both intra-bank and inter-bank transactions.

Photo: Ant Group CEO Zhao Wenbiao (second from left) attends the event organized by the Hong Kong Monetary Authority

During this collaboration process, we participated in two cases, as follows: Depth

1. Theme Case of "Green and Sustainable Finance"

Through AntChain's blockchain and AIoT (artificial intelligence + internet of things) technology, the operational status of physical assets can be recorded in real time and the data can be securely uploaded to the blockchain. This technology not only enhances the asset valuation of enterprises, but also enables all parties involved to assess asset values and manage risks collaboratively, ultimately improving the financing efficiency and accessibility of enterprises.

With the support of Ant Group and the Hong Kong Monetary Authority's Ensemble project, Xindian Tu, a new energy company listed in mainland China, has successfully obtained the first cross-border financing of real-world assets (RWA) through the tokenization of some charging piles operated on the platform as RWA-anchored assets, which will be used for energy storage and charging pile industry in the new energy sector.

2. Case Study on "Trade and Supply Chain Finance"

Through the tokenization asset platform built by Ant Group, the Global Shipping Business Network (GSBN) issued electronic bills of lading (eBL). During this process, HSBC, Hang Seng Bank and Bank of China (Hong Kong) facilitated the transfer of eBL using tokenization deposits for Settlement.

Ant Group CEO Eric Jing attended the release event of the Hong Kong Monetary Authority, where he said:

Ant Group is honored to be one of the first participants in the Ensemble project and to provide technical and solutions support. With the support of the Hong Kong Monetary Authority, Ant Group can participate in various innovative projects and apply its accumulated digital technology. In the future, we will also collaborate with more partners to launch diverse RWA projects, providing technical support for high-quality projects in China and globally, especially in the new energy sector, helping them to seize more development opportunities. We also welcome partners who are interested in exploring the support of new technologies for the real economy.