HONG KONG, June 24, 2026 – Hong Kong’s ambition to become a global hub for digital bonds and tokenised financial assets has gained further momentum, with Digital Asset Clearing Center, DACC.HK, joining the Hong Kong Economic Council to unveil a white paper on the development of tokenised bonds in the city.
The white paper, titled “Building a Global Digital Bond Hub in Hong Kong”, was presented at the Hong Kong New Quality Productive Forces Forum (III), an invitation-only event hosted by the Chinese Academy of Governance (Hong Kong) Industrial and Commercial Professionals Alumni Association and the Hong Kong Economic Council.
DACC.HK served as special co-organiser for the forum, which brought together financial regulators, market participants, fintech specialists and professional bodies to discuss how Hong Kong can strengthen its role in the next phase of digital finance.
The paper sets out a strategic goal of positioning Hong Kong as a global digital bond issuance centre, with a particular focus on cross-currency settlement, cross-border RMB settlement tools and tokenised capital market infrastructure.
The development comes as global financial centres compete to capture opportunities in tokenised assets, digital securities and blockchain-enabled settlement. For Hong Kong, digital bonds represent a potential bridge between its traditional strengths in capital markets and its growing policy focus on digital assets and Web3 financial infrastructure.
Tokenised Bonds Could Cut Costs and Settlement Times
According to DACC.HK, the development of a digital bond market could help Hong Kong reduce bond issuance costs by 30 to 50 per cent, shorten trading and settlement time from days to seconds, and improve cross-border capital flow efficiency by 60 to 80 per cent.
Serra Wei, Co-founder of the Digital Asset Clearing Center, said digital bonds could give Hong Kong a strategic opportunity to consolidate its position as a “super-connector” between Mainland China and global capital markets.
“Through developing the Digital Bond market, Hong Kong is expected to achieve a 30%-50% reduction in issuance costs, trading and settlement time shortened from days to seconds, and 60%-80% improvement in cross-border capital flow efficiency,” Wei said.
She added that the digital bond market remains at an early stage, creating scope for growth across Hong Kong and Asia.
“The Digital Bond market is still in its early stages and presents an opportunity for strong growth in Hong Kong and across Asia because Digital Bonds offer significant advantages over traditional bonds with higher issuance efficiency, lower transaction costs, greater transparency, and better programmability,” Wei said.
Digital bonds, also known as tokenised bonds, use blockchain or distributed ledger technology to represent bond ownership, settlement and lifecycle management in digital form. The model is seen as a way to reduce operational friction in issuance, trading, custody, settlement and regulatory reporting.
For investors and issuers, tokenised bonds can potentially support faster settlement, lower administrative costs, fractionalisation, improved transparency and more programmable compliance processes.
Hong Kong Looks to Strengthen Its Bond Market Position
Hong Kong already plays a significant role in Asia’s bond market. The white paper notes that Hong Kong dollar bond issuance reached HK$1,629.3 billion in 2025, while offshore RMB bond issuance reached RMB 1,100.9 billion.
However, DACC.HK argues that the city must seize opportunities created by digital transformation in global financial markets through technological and institutional innovation.
The white paper aims to provide strategic recommendations to the Hong Kong SAR Government on digital bond development. It also seeks to clarify Hong Kong’s target positioning in the international bond market, identify obstacles to digital bond adoption and propose pathways for building a robust digital bond ecosystem.
Among its recommendations are expanding the scale of tokenised bond issuance, reserving a portion of government bonds for subscription by retail investors and establishing mechanisms for cross-border regulatory coordination.
The paper also calls for Hong Kong to build a multi-blockchain interoperable digital bond gateway. Such infrastructure could be important as tokenised securities markets evolve across different blockchain networks, central bank systems, payment rails and traditional financial institutions.
The forum featured speakers from public and private institutions, including representatives from the Hong Kong Monetary Authority, the Securities and Futures Commission, CMU OmniClear, Guotai Junan International, BOCI Securities, King & Wood, Banking Circle and the Digital Asset Clearing Center.
The participation of regulators and market practitioners highlights the growing importance of tokenisation within Hong Kong’s capital markets agenda.
DACC ChainFusion Positioned as Tokenisation Infrastructure
A core recommendation of the white paper is the development of infrastructure capable of connecting traditional financial systems with blockchain networks. DACC.HK is positioning its DACC ChainFusion solution as a technology layer for digital bond issuance, clearing, settlement and record-keeping.
According to the company, DACC ChainFusion enables interoperability between on-chain assets and off-chain settlement tools. The system is designed to comply with ISO 20022 standards and provide immutable audit trails for every transaction.
The platform also includes regulatory-grade KYC, anti-money laundering and reporting capabilities, with SOC 2 Type 1 and Type 2 certifications.
DACC.HK said Conflux, described in the release as the only regulatory-compliant public blockchain in China, is an important ecosystem partner and has been fully integrated with DACC ChainFusion to provide end-to-end tokenisation infrastructure.
The integration is intended to support tokenised bond issuance and settlement by linking blockchain-based asset records with traditional financial market infrastructure.
DACC.HK describes itself as a next-generation financial market infrastructure provider offering compliant custody, clearing, settlement and record-keeping services for tokenised assets, including digital bonds.
The company says its platform can connect to major payment systems, including the Cross-Border Interbank Payment System, e-CNY and blockchain networks.
It also provides clearing-as-a-service infrastructure for financial institutions, as well as tools for stablecoin payments, tokenised deposits, KYC/AML processes, distributed ledger wallets and integration with traditional banking and digital exchange services.
Cross-Border RMB Settlement and Digital Finance
One of the most strategically important aspects of the white paper is its focus on cross-border RMB settlement. Hong Kong has long served as a major offshore RMB centre and gateway between Mainland China and international capital. Digital bond infrastructure could potentially strengthen this role by enabling more efficient cross-currency settlement and improving the flow of capital between Mainland and global markets.
As tokenised asset markets develop, the ability to integrate digital bonds with cross-border RMB tools, digital payment systems and compliant settlement rails could become a key differentiator for Hong Kong. The city is also seeking to position itself more clearly within the global race for digital asset financial infrastructure.
While many jurisdictions have focused on cryptocurrency regulation, Hong Kong’s tokenisation agenda is increasingly tied to real-world financial assets, institutional adoption and capital market modernisation.
Digital bonds are a natural area of focus because they sit at the intersection of conventional finance, blockchain infrastructure, settlement efficiency and regulatory oversight.
If Hong Kong can combine deep bond market liquidity, offshore RMB settlement, digital asset regulation and interoperable infrastructure, it could become an important regional centre for tokenised capital markets.
Tokenisation Moves From Concept to Market Infrastructure
The unveiling of the digital bond white paper reflects a broader shift in the financial technology sector. Tokenisation is moving beyond experimentation and into discussions about regulated market infrastructure, institutional settlement and cross-border capital flows.
For financial institutions, tokenised bonds could offer operational efficiencies in issuance, custody, settlement and reporting. For regulators, the technology could support better auditability and transparency. For issuers, it could lower friction and expand access to investors. For investors, it could create more efficient market participation.
However, challenges remain. Digital bond adoption will require clear regulatory frameworks, interoperability between blockchain networks and legacy systems, custody standards, investor protection, common market practices and cross-border coordination.
The white paper’s recommendations suggest that Hong Kong’s next stage of progress will depend not only on technology, but also on policy development and ecosystem alignment. For DACC.HK, the forum provides a platform to position its clearing and settlement infrastructure within this emerging market.
For Hong Kong, the broader message is that digital bonds could become a strategic tool in its effort to maintain relevance as a global financial centre while capturing opportunities from blockchain finance, tokenised assets and cross-border digital settlement.
As Asia’s capital markets evolve, the race to build trusted digital bond infrastructure is likely to intensify. Hong Kong’s combination of financial market depth, offshore RMB connectivity and digital asset policy momentum could make it one of the region’s most closely watched markets for tokenised bond development.