HKMA Forms Tokenized Bond Expert Group to Drive Digital Assets at Scale
Hong Kong has gradually validated bond tokenization since completing Project Genesis with the Bank for International Settlements Innovation Hub in 2021. The Hong Kong government issued HK$800 million in tokenized green bonds in February 2023, followed by about HK$6 billion in four-currency digital green bonds in February 2024. Establishing unified legal, trading and settlement rules is critical to turning one-off pilots into a regular market.
The Hong Kong Monetary Authority announced on June 5, 2026, that it had formed an expert group comprising 21 institutions, including HSBC, J.P. Morgan, UBS, HashKey Group and CMU OmniClear. The group held its first meeting in May to review the legal and regulatory framework for issuing and trading tokenized bonds. Its work also builds on the experience of scaling up the third digital green bond offering, worth about HK$10 billion, in November 2025.
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The history behind this eventHong Kong to Build Digital Asset Platform for Tokenized Bond Issuance and Settlement
Hong Kong’s government issued HK$800 million of government tokenized green bonds in February 2023, among the first of their kind globally, followed in February 2024 by multi-currency digital green bonds worth about HK$6 billion. The Hong Kong Monetary Authority used the offerings to test distributed-ledger technology for issuance, settlement and custody, paving the way for digital bonds to enter mainstream financial markets.
Financial Secretary Paul Chan announced on Feb. 19, 2025, that the HKMA-owned CMU OmniClear would establish a digital asset platform within 2025. It will initially support the issuance and settlement of tokenized bonds before expanding to other assets and connecting with regional platforms. The government will also issue tokenized green bonds regularly and advance legislation regulating stablecoin issuers.
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