Hong Kong to Launch 24/7 Blockchain Settlement by End-2026; SFC Unveils Gold, Stablecoin Rules

- HKMA to roll out 24/7 blockchain-based bond settlement by end-2026 - SFC launches licensing for tokenized gold, stablecoins; Standard Chartered debuts HKDAP stablecoin for HKD settlement On September 23, 2026, the Hong Kong Monetary Authority (HKMA) announced it will upgrade its Central Moneymarkets Unit (CMU), the city’s primary debt-securities settlement platform, to operate entirely on blockchain technology. The new system is set to transform market settlement efficiency by delivering real-time, 24/7 on-chain settlement capabilities, and HKMA has scheduled the rollout by the end of 2026. The initiative will lay the groundwork for future settlement of a digital Hong Kong dollar and central bank digital currencies (CBDCs), and it will also enable direct settlement of regulated stablecoins and tokenized deposits. According to Foresight News on September 23, 2026 (UTC), HKMA’s modernization will increase efficiency for institutional and retail participants and will enable programmable financial products to settle instantly on-chain. In addition, HKMA stated it is researching how regulated stablecoins and tokenized deposits could integrate with the upgraded platform as it aims to expand market infrastructure and enhance financial innovation. Meanwhile, Hong Kong’s Securities and Futures Commission (SFC) introduced a phased regulatory strategy as part of the city’s Five-Year Plan. According to HK01 on September 23, 2026, the strategy separates licensing and oversight measures for tokenized assets into short- and longer-term initiatives. HK01 reported that the SFC will implement licensing requirements for tokenized gold and stablecoins, and it is also working on a regulatory framework for real-world asset (RWA) tokenization. The plan includes new surveillance tools such as CrypTech, stronger custody and anti-money-laundering controls, and artificial intelligence-powered market oversight. Additionally, according to Cryptopolitan on September 23, 2026, Standard Chartered’s HKDAP stablecoin, licensed by HKMA and backed one-for-one by Hong Kong dollars, was launched for initial HKD settlements. Cryptopolitan reported that Standard Chartered is piloting HKDAP to settle tokenized money-market funds, while HSBC is preparing its own stablecoin launch by the end of 2026. As of August 2026, HKDAP’s circulation was limited, with 522,000 tokens issued. In addition, Hong Kong Exchanges and Clearing (HKEX) announced plans to introduce yuan-denominated gold futures contracts early next year. According to the South China Morning Post (SCMP) on September 23, 2026, this move expands on HKEX’s USD gold futures offering and builds commodity offerings priced in offshore yuan. SCMP reported that the decision follows recent trials by Hong Kong Precious Metals Central Clearing Limited in July 2026. These combined initiatives therefore mark Hong Kong’s move from pilot projects to active implementation and position the city as a leader in scalable digital finance infrastructure, bridging eastern and western markets and broadening digital asset and commodity futures products. As of September 23, 2026, at 15:09 UTC, according to the latest market data, Tether USDt (USDT) is trading at $1.00, down 0.016%, while Tether Gold (XAUt) is at $4,293.60, down 0.885%.