HKMA advances round-the-clock tokenized settlement, plans to include stablecoins in Exchange Fund Bills trial

BlockBeats news, November 2: The Hong Kong Monetary Authority announced that the EnsembleTX project has entered a new phase, supporting 24/7 real-value tokenized transaction settlement, helping banks and clients conduct global fund transfers, tokenized investment management, and treasury operations outside traditional settlement hours. HKMA Chief Executive Eddie Yue stated that tokenized central bank money is being introduced as the "foundational layer" for 24/7 settlement. The HKMA said that authorized dealers have completed secondary market pilot transactions of tokenized Exchange Fund bills, and the next step is to include regulated stablecoins in the relevant trials.

Separately, HSBC Group CEO Georges Elhedery disclosed at the Hong Kong FinTech Week that the HKD stablecoin RedCoin has reached 50,000 users about 10 days after launch, with a target of expanding to millions of users. RedCoin was launched on PayMe on October 23, supporting transfers and merchant payments, and more than 3.3 million PayMe customers can open a stablecoin wallet to use it. HSBC also plans to integrate it into mobile banking and support subscriptions to tokenized investment products, including HKD money market fund units.