
Hong Kong plans to develop its tokenized bond program, as the federal government prepares a 3rd batch of tokenized inexperienced bonds and indicators intentions to make such issuances a daily function of its debt technique.
Talking on the Hong Kong Digital Finance Awards 2025, Secretary for Monetary Providers and the Treasury Christopher Hui confirmed that the federal government’s upcoming tokenized bond sale builds on the success of two earlier rounds of tokenized inexperienced bonds issued in 2023 and 2024.
The bonds have been recorded and settled on distributed ledger know-how, based on a Thursday report from Beijing state-owned newspaper Wen wei Po.
Hui mentioned authorities goal to normalize tokenized authorities bonds sooner or later. To encourage wider adoption, the federal government is contemplating tax incentives, together with exemptions on stamp obligation for transfers of tokenized exchange-traded funds.
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Hong Kong unveils new digital asset technique
Hong Kong’s embrace of tokenization comes as a part of its broader digital asset technique outlined within the newly launched Digital Asset Growth Coverage Declaration 2.0.
Final week, the area introduced that the brand new digital asset plan facilities on regulating stablecoins and selling asset tokenization by its “LEAP” framework, aiming for authorized readability, ecosystem progress, real-world adoption and expertise improvement.
As a part of the brand new framework, the federal government will implement a licensing regime for stablecoin issuers beginning Aug. 1, which “will facilitate the event of real-world use instances.”
In the meantime, the federal government is consulting the general public on proposed licensing guidelines for digital asset buying and selling platforms and custodians, with the session interval open till the tip of August.
Hong Kong Exchanges and Clearing (HKEX) has additionally launched the town’s first digital asset indexes, providing value benchmarks for Bitcoin and Ethereum throughout Asian buying and selling hours. The trouble goals to draw institutional traders by offering dependable onshore reference costs.
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Hong Kong targets crypto derivatives
Final month, Hong Kong’s monetary regulators introduced plans to roll out digital asset derivatives buying and selling aimed toward skilled traders.
The transfer builds on latest approvals for spot cryptocurrency ETFs, futures merchandise, and staking companies. In April, HashKey acquired authorization to offer staking, underscoring the town’s push to ascertain itself as a high digital finance heart.
In Could, Hong Kong’s Legislative Council handed the Stablecoin Invoice, setting the stage for a regulated atmosphere that would cement the town’s position as a worldwide hub for digital belongings and Web3 innovation.
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