HashKey Enters HKMA Bond Circle as Hong Kong's RWA Market Passes a HK$10 Billion Test
HashKey Enters HKMA Bond Circle as Hong Kong's RWA Market Passes a HK$10 Billion Test
➤ HashKey has joined the HKMA's Tokenised Bond Expert Group, signaling Hong Kong's RWA market's maturation beyond initial demand tests, with a recent sovereign issuance reaching HK$10 billion. ➤ The focus is shifting to settlement infrastructure, particularly through Project Ensemble, which pilots tokenized deposits and wholesale CBDC for faster, more efficient transactions, aiming to create liquidity and reduce risk. ➤ While the market shows promise with scaled issuances and improved settlement, near-term risks include limited participation in the controlled pilot environment, with success hinging on broader adoption by dealers, custodians, and buyers.
