Hong Kong moves tokenized bank settlement to 24/7

The Hong Kong Monetary Authority said Monday that banks in its EnsembleTX pilot can now settle tokenized deposits around the clock, using tokenized central bank money.

HSBC RedCoin users

50,000 users

HSBC's Hong Kong dollar stablecoin RedCoin reached 50,000 users about 10 days after its Oct 23 launch, the bank's chief executive said.

What's next

The regulator plans to bring regulated stablecoins into trials of tokenized government debt. It has not said when.