Hong Kong to Implement Foreign Exchange Fund Note Tokenization Pilot Program by End of 2026

The Secretary for Financial Services and the Treasury of Hong Kong, Christopher Hui, announced at a press conference that a pilot program for the tokenization of foreign exchange fund notes will be implemented by the end of 2026. Digital bonds issued in Hong Kong account for approximately 50% of the global market, and there are plans to establish a digital asset platform within 2026 to provide one-stop services for digital bond issuance and settlement. In addition, Hong Kong will enhance its regulatory framework for virtual asset licensing and tokenized investment products, promote the trading of regulated stablecoins on licensed platforms, and encourage the expansion of compliant stablecoin application scenarios.

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