The Hong Kong Monetary Authority has set up a Tokenised Bond Expert Group to support broader use of tokenised bonds in Hong Kong. The group brings together industry associations, financial institutions, legal advisory firms, and financial infrastructure and technology providers to examine policy measures, market practices, and innovation, building on the HKMA’s existing tokenised bond initiatives. The first round of discussions took place in May and focused on Hong Kong’s legal and regulatory regime and how it applies to tokenised bond issuance and transactions. Feedback from those discussions is informing the HKMA’s ongoing work with the Financial Services and the Treasury Bureau to review and identify possible enhancements to the legal and regulatory framework to facilitate wider use of tokenisation in the fixed income market. The HKMA will continue topic-specific discussions with Expert Group members, review the group’s composition as needed, and announce details of the legal and regulatory exercise separately.

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