Hong Kong regulator eyes tokenization for bond market improvement: Report

on Aug. 25 detailing the findings of its Project Evergreen study which analyzed the market impact of bond tokenization.

Eddie Yue, the chief executive of the HKMA, said the study highlighted the potential of deploying distributed ledger technology to real capital markets transactions with the current legal framework existing in Hong Kong. Some of the primary efficiencies of bond tokenization revealed through the study were the ability to go paperless and eliminate the need for a physical global certificate - saving both hours and errors, the ability to interact between various parties on a common DLT platform and enhanced transparency through real-time data synchronization.

“As more financial institutions come up with their own tokenization solutions," he said."It will be crucial to consider how different solutions can connect and interact with each other as well as conventional systems to avoid fragmentation.”

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