Hong Kong plans to expand its tokenized bond project, with the government preparing for the third batch of tokenized green bonds and expressing its intention to normalize such issuances as part of its overall debt management strategy.
At the "Hong Kong Digital Finance Awards 2025," Financial Secretary Paul Chan stated that the upcoming issuance of tokenized bonds is a continuation of the successful experiences from the two rounds of tokenized green bonds in 2023 and 2024.
According to a report by Beijing state media "Wenhui Daily" on Thursday, these bonds will be registered and settled based on distributed ledger technology.
Paul Chan pointed out that in the future, authorities will promote the normalization of tokenized government bonds. To facilitate broader application, the government is considering tax incentives, including exemptions from stamp duty on the transfer of tokenized exchange-traded funds.
The promotion of tokenization in Hong Kong is an important part of its overall digital asset strategy under the recently released "Digital Asset Development Policy Declaration 2.0."
Last week, Hong Kong announced a new digital asset plan, focusing on stablecoin regulation and asset tokenization, and aims to achieve legal clarity, ecosystem development, practical scenario implementation, and talent cultivation through the "LEAP" framework.
According to the new framework, the government will implement a licensing system for stablecoin issuers starting August 1, which will help promote the development of real-world application scenarios.
At the same time, the government is seeking public opinions on licensing rules for digital asset trading platforms and custodians, with the consultation period ending at the end of August.
The Hong Kong Stock Exchange (HKEX) has also launched the city's first digital asset indices, providing price benchmarks for Bitcoin and Ethereum during Asian trading hours, aiming to attract institutional investors by offering authoritative local reference prices.
Last month, Hong Kong's financial regulators announced the launch of digital asset derivatives trading for professional investors.
This initiative is being advanced based on the recent approvals of spot cryptocurrency ETFs, futures products, and staking services. In April of this year, HashKey was granted permission to provide staking services, further demonstrating Hong Kong's determination to build a top global digital financial center.
In May, the Hong Kong Legislative Council passed the "Stablecoin Bill," laying the foundation for creating a regulated environment, which is expected to further consolidate Hong Kong's position as a global hub for digital assets and Web3 innovation.
Related: Three kidnappers in Belgium's cryptocurrency kidnapping case sentenced to 12 years in prison
Original: “Hong Kong Prepares for Third Batch of Tokenized Bonds, Expanding More Issuance Opportunities”
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