Hong Kong plans to pilot tokenized Exchange Fund Bills by 2026

Hong Kong: Hong Kong is a major international financial center and special administrative region of China that is actively expanding its regulatory and technological infrastructure for digital assets. Recent policy developments position the region as a leader in integrating blockchain technology with traditional capital markets through initiatives focused on tokenized instruments. The government and its monetary authority are driving efforts to pilot the tokenization of Exchange Fund Bills as part of this broader push into on-chain finance. Policy: Hong Kong's 2026 Policy Address outlines steps to advance tokenization in capital markets alongside regulated stablecoin trading on licensed platforms. Regulation: Authorities are refining the virtual asset licensing regime and tokenized investment product rules to support compliant use cases including stablecoins and real-world assets. Infrastructure: The Hong Kong Monetary Authority is building a digital asset platform to support one-stop services for digital bond issuance and settlement.