Daily edition
Material developments in payments, digital finance and regulation, selected for an HKMA audience.
5 stories
If stablecoin issuers operate through multiple legal entities and jurisdictions, a stress event could expose gaps in redemption, supervision and resolution arrangements just as cross-border users rush to cash out.
This is a concrete central-bank-run test of delivery-versus-payment for tokenised short-term government paper, which could lower settlement frictions and help define how trusted digital money is used in institutional tokenised markets.
If implemented, the deal would extend blockchain-based interbank settlement into Bahraini dinar flows and could broaden faster, always-on cross-border payment options beyond Partior’s current currency set.
The trial suggests Japan’s largest banks are moving from concept work toward an operational model for regulated, bank-linked stablecoins that could reduce friction in corporate cross-border payments.
This points to stablecoins being used as back-end treasury and settlement infrastructure inside established card and payout networks, which could lower friction in cross-border funding and payouts for businesses.