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Hong Kong has outlined plans to expand regulated stablecoin trading, tokenized real world assets and digital bond infrastructure under its 2026 Policy Address. The government also plans to introduce 24-hour central bank digital currency settlement through the Hong Kong Monetary Authority’s EnsembleTX platform by the end of 2026.
The measures cover stablecoin trading on licensed virtual asset platforms, tokenized money market fund settlement, tokenized gold and other eligible assets. Regulators will also expand custody, market and anti-money laundering surveillance.
The Securities and Futures Commission plans to strengthen virtual asset licensing rules. Under the policy plan, regulated stablecoins could trade on licensed virtual asset platforms and support settlement for tokenized money market funds.
Hong Kong introduced a regulated stablecoin issuer framework before extending its plans to trading. Licensed issuers must maintain reserves.
Anchorpoint Financial, backed by Standard Chartered, has started rolling out its Hong Kong dollar-backed HKDAP stablecoin. The company opened beta access in August for institutional distributors and professional investors.
Standard Chartered later became the first bank distributor for HKDAP. The bank also plans to introduce subscription and settlement services for tokenized money market funds in the fourth quarter.
The SFC also plans to improve rules for tokenized investment products. The framework would allow tokenized gold and other suitable assets to be issued and traded through licensed platforms. Authorities have not released a full list of eligible assets.
Hong Kong plans to make digital bond issuance a more regular part of its financial market infrastructure. According to the 2026 Policy Address, digital bonds issued in Hong Kong accounted for nearly half of the global market between 2025 and the first half of 2026.
In June, the Hong Kong Mortgage Corporation priced a HKD 12 billion digital bond, worth about $1.5 billion. Orders reached around HKD 24 billion from more than 100 institutional accounts.
The government plans to explore digital currencies across the life cycle of digital bonds, including settlement, interest payments and redemption. Authorities also plan to test tokenized Exchange Fund Bills before the end of 2026.
More than HKD 1.3 trillion in Exchange Fund Bills could be used in the program as regulators examine round-the-clock tokenization for bank asset and liability management. CMU OmniClear Limited also plans a digital asset platform in 2026 for bond issuance and settlement.
The HKMA’s Tokenised Bond Expert Group will conduct another legal review with the Financial Services and the Treasury Bureau. Participants include JPMorgan Securities, HSBC, Standard Chartered, UBS, Ant Digital and HashKey Group.
The HKMA plans to introduce central bank digital currency settlement and 24-hour operations under EnsembleTX around the end of 2026. The platform forms part of Hong Kong’s work on wholesale CBDCs, tokenized deposits and settlement infrastructure.
Meanwhile, the SFC plans to start a digital asset custody surveillance system during the second half of 2026. Its CrypTech program is scheduled to add big-data market surveillance and anti-money laundering monitoring in 2027.
The HKMA has also introduced a Quantum Preparedness Index to help financial institutions assess cryptographic risks linked to advances in quantum computing. The policy plan combines stablecoin trading, tokenized assets, digital bonds and new settlement infrastructure under a regulated framework.
Also Read: Hong Kong Targets Crypto Fraud as Stablecoin Rules Move Toward Rollout
