Overview
- The Hong Kong Monetary Authority announced a 21-member Tokenised Bond Expert Group, which it unveiled Friday, to collect industry input for possible rule changes on tokenised securities.
- Members include major banks, international law firms, market operators and crypto firms such as JPMorgan Securities, HSBC, Standard Chartered, UBS, A&O Shearman, Clifford Chance, Ant Digital, HashKey Group and CMU OmniClear.
- The group has already held initial talks in May that focused on how Hong Kong’s existing legal and regulatory framework applies to tokenised bond issuance and secondary trading.
- HKMA said the expert group will review policy measures, market practices and technology needs and will feed recommendations into the Financial Services and the Treasury Bureau’s rule review process.
- Hong Kong is building on earlier state-led projects — including a HK$800 million green tokenised bond in 2023 and a HK$6 billion multi-currency digital offering in 2024 — to try to attract private issuers and broaden secondary-market activity.