Hong Kong Plans 24/7 CBDC Settlement by End of 2026

Hong Kong will implement 24/7 central bank digital currency settlement by the end of 2026. This move is part of the city’s 2026 Policy Address. The plan targets stablecoin trading and tokenized real-world assets. It aims to expand regulated financial infrastructure.

The Securities and Futures Commission will update licensing rules. Licensed virtual asset platforms will host regulated stablecoin trades. Tokenized money market funds will use these stablecoins for settlement. Digital bond issuance will also expand under the new framework.

Regulated stablecoin trading expands

Regulators will allow licensed stablecoins to trade on virtual asset platforms. This follows the first issuer licenses granted earlier this year. Two institutions with banking backgrounds received these licenses. The framework requires eligible reserve assets and ongoing supervision.

Anchorpoint Financial began rolling out its HKDAP stablecoin in August. The token supports cross-border payments and fiat conversion. Standard Chartered became the first bank distributor for HKDAP. The bank plans to offer settlement services for tokenized funds by late 2026.

Tokenized assets gain regulatory support

The SFC will improve rules for tokenized investment products. Tokenized gold and other suitable real-world assets will be eligible for trading. These assets must trade on licensed platforms. The framework provides room for new digital product development.

Digital bonds have grown in the city’s tokenization activity. The government will examine legal changes for tokenized financial instruments. This supports the broader goal of market digitalization. Digital asset custody surveillance starts in the second half of 2026.

Infrastructure and surveillance timeline

The HKMA will introduce CBDC settlement under EnsembleTX by late 2026. This enables continuous operations for financial transactions. Market and anti-money laundering surveillance will expand in 2027. These measures aim to secure the digital asset ecosystem.

The policy document was released on September 16. It outlines a comprehensive plan for financial market development. The focus remains on digitalization and tokenization. GN auto markets/crypto: digital asset coverage highlights this strategic shift.