Weekly Brief No. 5
The HKSAR Government priced about HK$20 billion of digital green bonds and, for the first time, let investors in the Hong Kong dollar tranche pay in tokenised bank deposits through EnsembleTX. India's Demat 2.0 pays only in wholesale CBDC, so the two markets now give different answers on which money settles a tokenised bond.
India, Singapore, Hong Kong
Weekly Brief No. 4
Ethereum developers confirmed that the Glamsterdam upgrade reaches the Sepolia testnet on 6 October. It raises the gas cost of reading and writing contract state, which matters to the licensed stablecoin, tokenised fund and structured note contracts that institutions in Hong Kong and Singapore run on Ethereum mainnet. In Hong Kong, ChinaAMC tokenised its digital fund's cash and the HKMA described an on-chain bond settlement platform.
Hong Kong, Singapore
Weekly Brief No. 3
Payment Asia used HKDAP, the licensed Hong Kong dollar stablecoin on Ethereum, to settle real business payments. Two days later the Policy Address committed to stablecoin trading on licensed platforms and stablecoin settlement of tokenised money market funds, alongside HKMA-run infrastructure for tokenised deposits and CBDC.
Hong Kong
Weekly Brief No. 2
DBS, OCBC and UOB ran their first live Singapore dollar payments over Swift's blockchain ledger, and SEBI and the RBI launched tokenised corporate bonds on a depository-run ledger settled in wholesale CBDC. Both designs borrow from public-chain technology and keep the assets off public chains.
Singapore, India
Weekly Brief No. 1
MAS published draft amendments that would put its stablecoin framework into law, including a duty on issuers to trace, freeze and burn tokens on-chain. For stablecoins on Ethereum, the question MAS left open is whether holders' wallets will also be restricted.
Singapore, Hong Kong