🇭🇰 The Secretary for Financial Services and the Treasury of Hong Kong, Paul Chan Pun-pun, announced on 23 September that Hong Kong would launch a pilot project for tokenising Exchange Fund Bills by the end of 2026. The city’s Central Moneymarkets Unit (CMU) will set up a digital asset platform in 2026 to provide integrated services for the issuance and settlement of digital bonds. The digital bonds issued in Hong Kong currently account for around 50% of the global market. The government will also strengthen the licensing framework applicable to virtual assets, refine regulations for tokenised investment products, and encourage the use of regulated stablecoins on approved platforms.
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