Hong Kong plans to launch a new digital asset platform this year to support the issuance and settlement of tokenized bonds, as authorities move to integrate tokenization into core financial infrastructure.
In his 2026–27 budget speech on Wednesday, Financial Secretary Paul Chan said the platform will be developed by CMU OmniClear Holdings, a unit of the Hong Kong Monetary Authority.
Chan said the system will initially focus on tokenized bonds before gradually expanding to support other digital assets. It will also be linked with regional tokenization platforms to strengthen Hong Kong’s position in digital asset markets.
Tokenized bonds move into core infrastructure
The announcement signals a shift from pilot programs toward full integration of tokenized bond settlement into post-trade financial infrastructure.
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Hong Kong has already issued multiple rounds of tokenized government bonds. Chan said the latest batch, released in the fourth quarter of 2025, totaled 10 billion Hong Kong dollars (about $1.28 billion). He also added that the government intends to continue issuing tokenized bonds regularly.
Chan also confirmed that Hong Kong plans to issue its first fiat-referenced stablecoin licenses in March, with initial approvals expected to be limited.
Earlier this month, Eddie Yue said regulators are reviewing applications based on factors such as use cases, risk management, Anti-Money Laundering controls and asset backing.
The government intends to create new laws which will establish licensing systems for digital asset trading platforms and custodians. The Organisation for Economic Co-operation and Development Crypto-Asset Reporting Framework will be implemented through amendments to the Inland Revenue Ordinance which will bring Hong Kong into compliance with international tax transparency requirements.
The platform initiative builds on earlier steps to expand Hong Kong’s regulated crypto market.
On Feb. 11, the Securities and Futures Commission allowed licensed brokers to offer digital asset margin financing and introduced a framework for crypto perpetual contracts limited to professional investors.
