HKMA, SFC co-host tokenization seminar as EnsembleTX moves to 24/7 settlement

The significance here is regulatory choreography rather than a single product launch: the HKMA and SFC are publicly aligning settlement infrastructure with the asset class it is meant to serve, which matters more for tokenized funds than for banks alone. The 24/7 secondary market approval is the piece that changes the operating model, since continuous trading only works if the underlying cash leg settles continuously too. The open question is whether tokenized money market funds attract genuine secondary-market liquidity or remain a wrapper without a flow — worth watching as the next test of the Ensemble framework.