Hong Kong Connecting New Digital Bond Platform and Crypto Tokenization Hubs
Hong Kong is integrating the debt market into the blockchain and crypto era, announcing a new digital asset platform in the second half of the year that will support the issuance and payment of token bonds.
Finance Secretary Paul Chan confirmed on Wednesday during his 2026/2027 budget speech that the Hong Kong Monetary Authority’s (HKMA) CMU OmniClear Holdings will build the infrastructure, with clear plans to connect it to regional token hubs.
The move transforms Hong Kong from a pilot program to a permanent market development, consolidating funds available across Asian markets.
By connecting with external platforms, this move aims to prevent the “digital island” effect that has plagued early tokenization efforts.
-
Platform Presentation: CMU OmniClear will develop a centralized infrastructure to settle tokenized bonds and eventually other digital assets.
-
Regional Connection: The program is designed to connect with other token platforms across the Asia-Pacific region to increase cross-border liquidity.
-
Stablecoin integration: New fiat-referenced stablecoin licenses will be issued in March to support payments and test commercial use cases.
The platform represents the HKMA’s transition from the experimental sandboxes of the “E-Project Ensemble” (which helped asset manager titan Franklin Templeton release token assets) to a live production environment.
After the successful issuance of green bonds of up to $10 billion by the end of 2025 throughout the secondary market, the regulator is now fixing the post-trade conflict.
This is not just about government debt. The infrastructure is designed to go beyond independent releases. Just as trading platforms like Bitpanda expand access to tokenized metals and assets, the new Hong Kong hub aims to capture the institutional side of RWA issuance.
By placing the settlement within the Central Moneymarkets Unit (CMU), Hong Kong provides the necessary legal requirements.
The program will support the payment of various digital assets, which goes beyond the third batch of $1.28 billion of tokenized bonds issued last quarter.
At worst, the government has committed to continue issuing regular tokens to start the liquidity pump.
This infrastructure game is in line with the growing demand for an on-chain harvesting facility and settlement efficiency.
Analysts at Standard Chartered recently highlighted how stablecoins are driving demand for trillions of dollars in US Treasury debt tokens. By connecting regional hubs, Hong Kong is trying to capture the same flow in Asian credit markets.
