The Securities and Futures Commission plans to broaden its licensing framework to allow for the trading of stablecoins on authorized platforms, while enabling these assets to settle tokenized money market funds. This move builds on the progress of institutions like Anchorpoint Financial, which recently launched its HKDAP stablecoin to facilitate cross-border payments and institutional asset settlement.
Beyond stablecoins, the government is prioritizing the tokenization of physical assets, specifically gold. By refining regulatory guidelines, authorities intend to streamline the issuance and trading of these instruments on licensed exchanges. This builds on the region's recent dominance in the digital bond market, which accounted for nearly half of global issuance between 2025 and mid-2026. To support this growth, the Hong Kong Monetary Authority will roll out EnsembleTX, a system designed for round-the-clock settlement of wholesale central bank digital currencies by the end of 2026.
To mitigate risks associated with this rapid expansion, the SFC will introduce a digital asset custody surveillance system in the second half of 2026. This will be followed by a comprehensive big data monitoring initiative in 2027, designed to bolster anti-money laundering efforts and ensure institutional compliance as the city deepens its commitment to distributed ledger technology.
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