Hong Kong Plans Stablecoin Trials as 24/7 Tokenized Settlement Begins
Photo: TronWeekly
Hong Kong has enabled round-the-clock settlement of tokenized financial transactions, with regulated stablecoin trials planned for government debt trading. The Hong Kong Monetary Authority announced the upgrade on November 2, while HSBC disclosed 50,000 users for its recently launched RedCoin. The regulatory body announced that EnsembleTX now facilitates real-value transactions in any time period. Recognized dealers have already conducted secondary market testing using tokenized exchange fund bills. The upgrade allows banks and customers to conduct transactions beyond the regular banking hours, the HKMA stated. Other capabilities include international money allocations, tokenized portfolios, and treasury management.
Source: TronWeekly
