- Hong Kong’s roadmap will convey again tokenized bonds below a 10-stage growth plan.
- The HKMA Stablecoin license has been launched to regulate the regulated crypto money leg.
- The yuan liquidity and issuance type the core pillar of the roadmap push.
Hong Kong’s regulators have set out 10 measures to spice up bond issuance, deepen the yuan market and advance tokenized belongings. The plan combines a 3rd batch of tokenized inexperienced bonds with a brand new Stablecoin licensing regime, demonstrating how the town needs to pin its function in digital finance.
Roadmap with 4 pillars
Hong Kong’s Securities and Futures Fee (SFC) and the Monetary Authorities (HKMA) have launched a roadmap for bond and cash markets. The framework rests on 4 pillars – increasing issuance, strengthening secondary market liquidity, increasing offshore yuan capability, and constructing next-generation infrastructure.
Since 2019, Hong Kong has already issued $386 billion price of multi-currency bonds, indicating that regulators are prepared to steer in state-backed provide. Its basis is meant to draw follow-on corporations and amenities papers.
Tokenized Bonds and CBDC Integration
Tokenization is just not the idea right here. The earlier situation raised US$100 million in 2023 and US$750 million in 2024. At the moment, a 3rd batch is within the pipeline, with plans to check funds on each the asset and the fundraiser facet.
Associated: Hong Kong helps the 2025 business financial institution tokenization initiative
It hyperlinks immediately with HKMA’s E-HKD+ and Challenge Ensemble Pilot, and has tried wholesale CBDCs for tokenized sediments and cross-border funds.
Infrastructure and Stablecoin License
The roadmap can be folded into an already shifting infrastructure. Hkex launched Bitcoin and Ethereum digital asset indexes and supplied benchmarks throughout Asian buying and selling hours.
On the regulatory facet, the stubcoin licensing system was applied on August 1st, and below the supervision of HKMA, stubcoin was issued with Fiat-backed assist. Authorities say they’re weighing tax credit, together with stamp exemptions for tokenized ETFs, to scale back admission prices.
For merchants, their sovereign provide deepens the bond curve, with tokenized bonds sitting facet by facet with CBDC rails, and stubrecoin falling below direct regulatory oversight.
Associated: Financial institution of Korea prepares for a three-month “Hangan” CBDC trial with 100,000 shoppers
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