Hong Kong will arrange a brand new digital asset platform this 12 months to assist the issuance and settlement of tokenized bonds, as town pushes to maneuver tokenization from pilot offers into core market infrastructure.
In his 2026-27 finances speech delivered on Wednesday, Monetary Secretary Paul Chan said CMU OmniClear Holdings, a subsidiary of the Hong Kong Financial Authority (HKMA), will construct the platform and prolong it to different digital belongings.
The system might be linked with regional tokenization platforms. Chan stated the platform could be “regularly prolonged to different digital belongings and linked with different tokenisation platforms within the area,” including that the transfer would consolidate Hong Kong’s position in digital asset growth.
The announcement locations tokenized bond settlement throughout the HKMA’s post-trade infrastructure, transferring past pilot issuances in the direction of built-in market methods.
Hong Kong has already tokenized a number of rounds of presidency bonds. Chan stated the federal government issued its third batch of tokenized bonds within the fourth quarter of 2025, totaling 10 billion Hong Kong {dollars} ($1.28 billion). He stated the federal government will proceed issuing tokenized bonds frequently.
Stablecoin licensing and broader guidelines
Chan has additionally stated Hong Kong plans to problem its first batch of fiat-referenced stablecoin licenses in March, with preliminary approvals anticipated to be restricted.
He stated the federal government will proceed to facilitate licensed issuers in exploring use circumstances “in a compliant and risk-controlled method.”
On Feb. 2, HKMA Chief Government Eddie Yue stated the regulator was making ready to grant its first stablecoin issuer licenses in March, with preliminary approvals anticipated to be restricted.
Yue stated opinions are centered on use circumstances, danger administration, Anti-Cash Laundering (AML) controls and asset backing.
Chan’s speech additionally acknowledged that the federal government will introduce a invoice to determine licensing regimes for digital asset dealing and custodian service suppliers.
He added that the Inland Income Ordinance might be amended to implement the Group for Financial Co-operation and Growth’s Crypto-Asset Reporting Framework, aligning Hong Kong with international tax transparency requirements.
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Liquidity push builds on earlier digital asset efforts
The infrastructure push comes alongside different current efforts to develop Hong Kong’s regulated digital asset market.
On Feb. 11, the Securities and Futures Fee allowed licensed brokers to supply digital asset margin financing and outlined a framework for crypto perpetual contracts restricted to skilled buyers.
Regulators stated the measures purpose to deepen liquidity whereas sustaining danger controls.
The measures outlined within the 2026–27 finances prolong that method by integrating tokenized bond issuance and settlement into town’s core monetary infrastructure.
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