According to CoinMeta, Hong Kong Financial Services and Treasury Bureau Secretary Henry Yau stated that Hong Kong accounts for about 50% of the global issuance of digital bonds. Hong Kong plans to pilot the tokenization of Exchange Fund bills by the end of 2026. Xunqing Settlement ( CMU ) will establish a digital asset platform within 2026 and improve the licensing system for virtual assets as well as the regulatory framework for tokenized investment products, in order to promote the trading of regulated stablecoins on licensed platforms and expand their application scenarios.