Deloitte: The Hong Kong government is actively promoting the normalization of tokenization. The next step is expected to explore more application scenarios in the sandbox.

Deloitte's Greater China Digital Asset Leader Partner, Lu Zhihong, pointed out that the Hong Kong Monetary Authority will continue to promote the Ensemble project and normalize tokenized bond issuance in the Policy Address, indicating the government's active promotion of the normalization of tokenization from pilot to standard practice. He noted that as tokenized bonds gradually become normalized, the next step is to explore more application scenarios in the sandbox, including trade financing and fund distribution, to strengthen Hong Kong's position as a leading market in the global trend of Real-World Asset tokenization and further deepen and diversify the capital market. He mentioned that he is pleased to see the government encouraging innovation while also enhancing risk management for banks through regulatory sandboxes, establishing licensing systems for digital asset trading and custodial services, and introducing automated data monitoring tools to ensure a balance between innovation and stability. This will help Hong Kong build a reliable and forward-looking digital asset ecosystem.