According to PANews, the Chief Executive of the Hong Kong Monetary Authority (HKMA), Yu Weiwen, outlined the 'Fintech 2030' vision during the opening of Fintech Week. The initiative aims to establish Hong Kong as a robust, resilient, and forward-looking international fintech hub, focusing on four key areas with over 40 specific projects.
A significant aspect of this vision is the promotion of financial tokenization and the development of a thriving tokenization ecosystem. The HKMA plans to lead by example in asset tokenization, including the regular issuance of tokenized government bonds. Additionally, the feasibility of tokenizing Exchange Fund Bills and Bonds will be explored.
The HKMA is set to launch the Ensemble project pilot program to support real transactions and will continue collaborating with industry stakeholders and other central banks to foster innovative tokenization use cases.