Odaily News: The Hong Kong Monetary Authority (HKMA) announced today that it is studying the establishment of a regulatory framework for digital Hong Kong dollars or stablecoins, as well as promoting the application of Distributed Ledger Technology (DLT) in the industry by tokenizing bank deposits. In the next quarter, they will hold seminars with the industry to introduce DLT technology.



Mr. Eddie Yue, Deputy Chief Executive of the HKMA, stated that there is no specific timeline for the tokenization of bank deposits, and it will not be mandatory for all banks to follow suit. The progress of this initiative is not directly related to the research on digital Hong Kong dollars, and both will proceed simultaneously.



Mr. Arthur Yuen, Deputy Chief Executive of Banking Supervision of the HKMA, expressed the expectation that DLT technology could be more widely applied in the future, such as reducing the transaction settlement time for bond issuances to T+1. He also acknowledged that DLT platforms still face limitations, such as whether the technology is mature enough and stable enough. Further research is needed in the future. However, once the technology is mature, there will be opportunities to extend its application to tokenization in securities, properties, and mortgage products. (Radio Television Hong Kong)