Daily edition
Material developments in payments, digital finance and regulation, selected for an HKMA audience.
5 stories
If stablecoin activity keeps spreading across borders faster than supervisory coordination improves, a stress event could expose gaps in redemption, insolvency handling, and reserve oversight across multiple legal regimes.
This shows a central bank moving from tokenisation discussion to live fixed-income issuance and settlement testing, which could shape how wholesale digital money is used for institutional bond markets.
It shows a major bank using a public blockchain for tokenized deposit infrastructure, which could accelerate institutional on-chain payments and settlement models.
If implemented, the arrangement could give banks a new route for faster, always-on cross-border settlement in Bahraini dinars, reducing reliance on slower correspondent banking chains.
USDC’s designation shows that large stablecoins in Europe can move into a tougher supervisory tier with higher capital, reserve, and governance obligations, raising compliance costs and setting a benchmark for other issuers.