Hong Kong plans to settle tokenized funds with stablecoins and test $1.3 trillion in note tokenization

The Hong Kong government's 2026 Policy Address outlines plans to expand digital asset applications in traditional finance. The Securities and Futures Commission (SFC) will refine the virtual asset licensing regime and regulatory framework for tokenized investment products to support the issuance and trading of gold and other RWA on licensed platforms. The Hong Kong Monetary Authority (HKMA) plans to test the tokenization of over 1.3 trillion HKD in Exchange Fund Bills by the end of the year and aims to implement EnsembleTX for CBDC settlement and 24/7 operations.