[Xu Zhengyu: Hong Kong Plans to Pilot Tokenization of Exchange Fund Bills by the End of 2026]
Hong Kong's Secretary for Financial Services and the Treasury, Xu Zhengyu, stated that digital bonds issued in Hong Kong account for approximately 50% of the global share. Hong Kong plans to pilot the tokenization of Exchange Fund Bills by the end of 2026. The Central Moneymarkets Unit (CMU) will establish a digital asset platform within 2026, improve the licensing system for virtual assets, develop a regulatory framework for tokenized investment products, promote the trading of regulated stablecoins on licensed platforms, and expand application scenarios.