Hong Kong to Advance Tokenized Deposits and Asset Trading

According to BlockBeats, Hong Kong Chief Executive John Lee announced initiatives to promote tokenized deposits and asset trading during his fourth policy address. The Hong Kong Monetary Authority will encourage commercial banks to introduce tokenized deposits and facilitate real asset tokenization transactions. This includes using tokenized deposits to settle tokenized money market funds, assisting the government in regularizing tokenized bond issuance, and encouraging banks to enhance risk management through regulatory sandboxes. Lee stated that Hong Kong is implementing a stablecoin issuer system and drafting legislative proposals for licensing digital asset trading and custody services source: https://www.binance.com/en/square/post/29796363425105?utm_source=BinanceNewsRSS