Hong Kong to Pilot Tokenization of Exchange Fund Bills by End of 2026

Christopher Hui (許正宇), Secretary for Financial Services and the Treasury of Hong Kong, announced plans to pilot the tokenization of Exchange Fund Bills by the end of 2026. The Central Moneymarkets Unit (CMU) will establish a digital asset platform within 2026 to provide one-stop services for digital bond issuance and settlement. Hong Kong also intends to refine its virtual asset licensing regime and regulatory framework for tokenized investment products.