On 28 October 2025 the Hong Kong Monetary Authority published the e-HKD Pilot Programme Phase 2 Report and, with it, drew a line under three years of retail testing. The report sets out the HKMA’s latest policy stance on Hong Kong’s central bank digital currency: the immediate priority for the e-HKD sits in wholesale settlement…
On 13 November 2025, the Hong Kong Monetary Authority (HKMA) launched Ensemble TX, the pilot phase of Project Ensemble, and with it moved tokenised-deposit settlement out of the laboratory and into real-value transactions. HKMA Project Ensemble had spent more than a year as a sandbox; Ensemble TX now lets participating banks settle interbank tokenised deposit…
On 10 April 2026 the Hong Kong Monetary Authority granted the territory’s first two stablecoin issuer licences, to Anchorpoint Financial Limited and The Hongkong and Shanghai Banking Corporation Limited. Both licences took effect that day under the Hong Kong Stablecoins Ordinance, the statute that has regulated fiat-referenced stablecoins since it came into operation on 1…