Hong Kong Official Says Licensed Stablecoin Issuers Join CBDC and Tokenized Deposit Projects

Hong Kong’s financial services chief said two licensed stablecoin issuers are participating in projects led by the Hong Kong Monetary Authority (HKMA) involving central bank digital currency and tokenized deposits. According to Foresight News, Financial Services and the Treasury Bureau Secretary Christopher Hui said the issuers’ partners include local telecommunications, payments, and digital asset companies. Hui said the HKMA will continue to follow up and urge institutions to implement relevant application scenarios, while exploring additional uses for compliant stablecoins in digital finance to support the real economy and financial activity. He added that the HKMA has established an Ensemble project architecture working group to advance unified local standards, aiming to enable interoperability among central bank digital currency, tokenized money, and tokenized assets. The effort is intended to facilitate the movement of funds and assets within the tokenization ecosystem and provide clearer development direction for the industry.