Hong Kong plans to pilot tokenization of Exchange Fund Bills by the end of 2026
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AT A GLANCE
Christopher Hui stated that Hong Kong plans to pilot the tokenization of Exchange Fund Bills by the end of 2026.
Article
Hong Kong Secretary for Financial Services and the Treasury Christopher Hui:2026 Pilot tokenization of Exchange Fund Bills before year-end
PANews September 23 reported that Hong Kong Secretary for Financial Services and the Treasury Christopher Hui stated at a press conference on financial development measures under the first 5-year plan for the economic and social development of the Hong Kong Special Administrative Region and the Chief Executive’s 2026 Policy Address that digital assets and fintech are new growth engines for Hong Kong, and that digital bonds issued in Hong Kong account for approximately 50%，2026 Pilot tokenization of Exchange Fund Bills before year-end, and establish a digital asset platform within the 2026 year through the Central Moneymarkets Unit (CMU), providing one-stop services including digital bond issuance and settlement. In terms of regulation and market development, measures include improving the virtual asset licensing regime, refining the regulatory framework for tokenized investment products, promoting the trading of regulated stablecoins on licensed platforms, and encouraging the expansion of compliant stablecoin use cases.
Xu Zhengyu stated that digital assets and financial technology are Hong Kong's new growth engines.
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Xu Zhengyu stated that digital bonds issued in Hong Kong account for approximately 50% of the global total.
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Hong Kong plans to pilot the tokenisation of Exchange Fund Bills by the end of 2026.
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CMU OmniClear (CMU) plans to establish a digital asset platform within 2026 years, providing one-stop services including digital bond issuance and settlement.
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Regulatory and market-development measures include refining the virtual asset licensing regime and the regulatory framework for tokenised investment products.
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The measures also include promoting the trading of regulated stablecoins on licensed platforms and encouraging the expansion of use cases for compliant stablecoins.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This initiative will pilot the tokenization of Exchange Fund Bills and develop a platform supporting the issuance and settlement of digital bonds. The source also mentions regulatory arrangements for virtual assets, tokenized investment products, and stablecoins.
Why it matters to readers
The original text identifies digital assets and financial technology as Hong Kong's new growth engines and sets out specific measures including bill tokenization, digital asset platforms, and regulatory frameworks.
Beginners can monitor the pilot timeline, progress in platform development, and whether licensing and trading rules related to virtual assets and stablecoins become clearer.
Risks and unknowns
The content is based on PANews' account of remarks made at a press conference; no original record of the press conference was provided.
The original text does not specify the precise scale, participating institutions, or implementation approach for the pilot tokenization of Exchange Fund bills.
The matters concerned are part of future plans, and the actual timing and implementation arrangements may still change.
The original text states “Xunqing Settlement (CMU)”; its accurate name needs to be verified.
The statistical methodology and data source for “approximately 50%” are not specified.
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Related concepts
Exchange Fund Bills
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