{
  "id": 17780454,
  "title": "Hong Kong takes tokenized settlement to 24/7, plans stablecoin trials",
  "url": "https://urgent.news/2026/11/02/hong-kong-takes-tokenized-settlement-to-24-7-plans-stablecoin-trials",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-02T10:14:55.000Z",
  "source": {
    "name": "Cointelegraph",
    "slug": "cointelegraph",
    "url": "https://cointelegraph.com/news/hong-kong-24-7-tokenized-settlements-stablecoin-trials"
  },
  "original_language": "en",
  "account": "Hong Kong's monetary regulator, the Hong Kong Monetary Authority (HKMA), has advanced its Project Ensemble pilot to enable 24/7 real-value transactions for tokenized government debt. The update will allow banks and their clients to move funds globally and manage tokenized investments outside conventional settlement hours. The HKMA had previously launched Project Ensemble in March 2024 to explore how banks could settle tokenized transactions using central bank digital money. The pilot opened a sandbox in August, enabling banks to connect their tokenized deposit platforms and test transactions.\n\nHSBC's Hong Kong dollar stablecoin, RedCoin, has reached 50,000 users within a short period after its debut. The bank's CEO, Georges Elhedery, announced the milestone at Hong Kong FinTech Week, stating that the company aims to expand access to the token and reach \"multi-million users.\" HSBC has also begun offering tokenized deposits to wholesale clients in Hong Kong and other jurisdictions, allowing funds to move round the clock. The bank launched RedCoin on October 23 for transfers and merchant payments through its PayMe application, with over 3.3 million PayMe customers able to activate stablecoin wallets for use in the token.",
  "summary": "The HKMA plans to bring regulated stablecoins into tokenized government debt trials, while HSBC says its RedCoin stablecoin has reached 50,000 users.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}