Hong Kong Enables 24/7 Tokenized Settlements, Plans Stablecoin Trials
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Written by:
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- Yohan Yun, staff editor
Hong Kong takes tokenized settlement to 24/7, plans stablecoin trials
Latest News
Published: Nov 2, 2026
The Hong Kong Monetary Authority (HKMA) is advancing its EnsembleTX project to allow 24/7 settlement of tokenized transactions. This update enables banks and clients to move funds globally, manage investments, and handle treasury operations outside conventional hours.
Initially, the pilot program settled payments through Hong Kong's existing dollar system, limiting hours. However, the HKMA now plans to introduce tokenized central bank money for round-the-clock settlement, including tokenized government debt trials.
HSBC’s RedCoin reaches 50,000 users
HSBC Group CEO Georges Elhedery announced that the bank's Hong Kong dollar stablecoin, RedCoin, reached 50,000 users within 10 days of its launch. HSBC aims to expand access to the token, targeting "multi-million users."
RedCoin facilitates retail payments and tokenized deposits for wholesale clients in Hong Kong and several other jurisdictions, enabling 24/7 fund transfers.