Hong Kong Aims to Enhance Bond Market with Tokenization

According to Foresight News, Hong Kong Monetary Authority's Deputy Chief Executive, Chan Wai-man, emphasized efforts to streamline the flow of northbound and southbound bonds. In a recent interview, Chan highlighted the intention to develop new types of bonds, such as tokenized bonds. Over the past two years, the Hong Kong Monetary Authority has assisted the Special Administrative Region government in issuing tokenized bonds twice, utilizing blockchain technology to reduce costs, expedite processes, and mitigate risks. The market response has been very positive. Following the government's lead, there is hope that more private sector entities will participate in issuing tokenized bonds, ensuring Hong Kong's financial sector remains at the forefront globally.