Crypto: Hong Kong To Link New Digital Bond Platform With Regional...

Hong Kong will build a digital asset platform for tokenized bond issuance and settlement, while moving ahead with stablecoin licensing and CARF.

Hong Kong will set up a new digital asset platform this year to support the issuance and settlement of tokenized bonds, as the city pushes to move tokenization from pilot deals into core market infrastructure.

In his 2026-27 budget speech delivered on Wednesday, Financial Secretary Paul Chan said CMU OmniClear Holdings, a subsidiary of the Hong Kong Monetary Authority (HKMA), will build the platform and extend it to other digital assets.

The system will be linked with regional tokenization platforms. Chan said the platform would be “gradually extended to other digital assets and linked with other tokenisation platforms in the region,” adding that the move would consolidate Hong Kong’s role in digital asset development.

The announcement places tokenized bond settlement within the HKMA’s post-trade infrastructure, moving beyond pilot issuances toward integrated market systems.

Hong Kong has already tokenized several rounds of government bonds. Chan said the government issued its third batch of tokenized bonds in the fourth quarter of 2025, totaling 10 billion Hong Kong dollars ($1.28 billion). He said the government will continue issuing tokenized bonds on a regular basis.

Chan has also said Hong Kong plans to issue its first batch of fiat-referenced stablecoin licenses in March, with initial approvals expected to be limited.

He said the government will continue to facilitate licensed issuers in exploring use cases “in a compliant and risk-controlled manner.”

On Feb. 2, HKMA Chief Executive Eddie Yue said the regulator was preparing to grant its first stablecoin issuer licenses in March, with initial approvals expected to be limited.

Yue said reviews are focused on use cases, risk management, Anti-Money Laundering (AML) controls and asset backing.

Source: CoinTelegraph