On 2 November 2026, the Hong Kong Monetary Authority said it had advanced its EnsembleTX pilot to allow round-the-clock, real-value settlement of tokenized transactions. Participating banks had initially used Hong Kong’s existing dollar settlement system, which limited settlement hours. The regulator said recognized dealers had completed trial trades in tokenized Exchange Fund Bills and that it planned to expand those trials to include regulated stablecoins.
Separately, HSBC Group CEO Georges Elhedery said the bank’s Hong Kong dollar stablecoin, RedCoin, had reached 50,000 users about 10 days after its launch. HSBC said more than 3.3 million PayMe customers could activate wallets to use it; access through its mobile banking app and subscriptions to tokenized investments remain plans.
