Hong Kong has unveiled an ambitious digital-asset roadmap in its 2026 Policy Address, calling for expanded regulated stablecoin trading, tokenized gold and other real-world assets, and a 24-hour central bank digital currency settlement rail. The plans position the city as a global hub for tokenized finance while tightening oversight of custody, market activity, and anti-money laundering.
Stablecoin Trading Expands on Licensed Platforms
Under the new policy direction, the Securities and Futures Commission will strengthen licensing rules for virtual asset platforms. Regulated stablecoins are expected to trade on licensed venues and help settle tokenized money market funds.
Hong Kong introduced a stablecoin issuer framework earlier, and the latest plans extend it to trading. Licensed issuers must maintain full reserves. One milestone is Anchorpoint Financial’s Hong Kong dollar-pegged HKDAP stablecoin, backed by Standard Chartered. The company opened beta access in August to institutional distributors and professional investors, and Standard Chartered has become the first bank distributor. The bank also plans to roll out subscription and settlement services for tokenized money market funds in the fourth quarter.
Tokenized Gold and Digital Bonds
The SFC will also update rules for tokenized investment products. This could allow tokenized gold and other eligible assets to be issued and traded on licensed platforms, though authorities have not yet published a complete list of approved asset types.
Hong Kong is also making digital bond issuance a standard part of its financial market infrastructure. According to the policy address, Hong Kong-issued digital bonds 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, drawing orders of roughly HKD 24 billion from more than 100 institutional accounts.
Plans include testing tokenized Exchange Fund Bills before the end of 2026, with more than HKD 1.3 trillion in bills potentially involved. Regulators also aim to explore digital currencies across the bond lifecycle, including settlement, interest payments, and redemption. CMU OmniClear Limited plans to launch a digital asset platform in 2026 for bond issuance and settlement. In addition, 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.
EnsembleTX Targets 24-Hour CBDC Settlement
The Hong Kong Monetary Authority intends to introduce 24-hour central bank digital currency settlement on its EnsembleTX platform around the end of 2026. The initiative supports wholesale CBDC, tokenized deposits, and settlement infrastructure.
Meanwhile, the SFC plans to launch a digital asset custody surveillance system in 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 firms assess cryptographic risks from advances in quantum computing.
Together, the measures create a regulated framework spanning stablecoin trading, tokenized assets, digital bonds, and next-generation settlement infrastructure.