Yu Weiwen, the Hong Kong Monetary Authority will take the lead in demonstrating asset tokenization and is about to launch the Ensemble project pilot program

The President of the Hong Kong Monetary Authority, Eddie Yue, delivered the opening remarks at the FinTech Week, outlining the "FinTech 2030" vision, which aims to develop Hong Kong into a robust, resilient, and forward-looking international fintech hub, focusing on four key areas that encompass over 40 specific projects. Among them, it was mentioned that the Monetary Authority will also promote financial tokenization and foster a thriving tokenization ecosystem.

The Monetary Authority will take the lead in demonstrating asset tokenization, such as regularizing the issuance of tokenized government bonds, while also exploring the feasibility of tokenizing foreign exchange fund notes and bonds. The Monetary Authority is set to launch the Ensemble project pilot program to support real transactions and will continue to collaborate with industry stakeholders and other central banks to cultivate innovative tokenization use cases.