ChainCatcher news, according to the Hong Kong government's press release, Hong Kong's Acting Secretary for Financial Services and the Treasury, Chan Ho-lam, confirmed for the first time at a Legislative Council meeting that the Hong Kong Monetary Authority holds a small amount of cryptocurrency assets through external investment managers. He emphasized that while cryptocurrency assets are not the investment target of the foreign exchange fund, there are indeed "individual investments involving cryptocurrency assets" in the diversified portfolios of external investment managers, but they account for a "very small" proportion.At the same time, Chan Ho-lam revealed that the Hong Kong Securities and Futures Commission will launch a consultation group for virtual asset trading platforms in early 2024. In addition, the Hong Kong government will submit a draft regulation on the supervision of stablecoin issuers to the Legislative Council within this month and plans to conduct a second round of public consultation on virtual asset over-the-counter trading services in 2024, while proposing a licensing system for virtual asset custodians.

ChainCatcher news, the Hong Kong Monetary Authority (HKMA) officially announced the launch of the "Digital Bond Financing Scheme" (Financing Scheme) as stated in the 2024 Policy Address, aimed at promoting the development of the digital securities market and encouraging the broader use of tokenization technology in the capital markets. The Financing Scheme is now open for applications, initially for a period of three years, and if the relevant eligibility requirements are met, each digital bond issued in Hong Kong can receive a maximum grant of HKD 2.5 million.

ChainCatcher news, according to the official website, the Hong Kong Monetary Authority (HKMA) urges the public to remain vigilant and be cautious of certain overseas crypto asset institutions that are not licensed banks in Hong Kong. They claim to be "banks" in Hong Kong or use the term "bank" when describing their products or services. These actions may have violated the Banking Ordinance.The HKMA has noted that two overseas crypto asset institutions that are not licensed banks in Hong Kong held activities in Hong Kong. During the events, one of them was reported to have referred to itself as a "bank," while the other described its card products on its website as "bank cards." The HKMA is concerned that the statements made by these institutions may mislead consumers into believing they are licensed banks in Hong Kong and regulated by the HKMA, or that such products and services are provided by licensed banks in Hong Kong.The HKMA reminds the public that crypto asset institutions not recognized by Hong Kong are not regulated by the HKMA. The inclusion of the term "bank" in the name of overseas crypto asset institutions, or claims by overseas "crypto banks" of having obtained licenses elsewhere, does not mean they are necessarily licensed banks in Hong Kong. Furthermore, products or services with the term "bank" in their name are not necessarily provided by licensed banks in Hong Kong.

ChainCatcher news, the Hong Kong Monetary Authority (HKMA) announced a collaboration with the central banks of Brazil and Thailand to conduct cross-border tokenized transactions, including atomic settlement (DvP) for digital asset trading and wholesale CBDC (PvP).In addition, the Hong Kong Monetary Authority plans to provide a subsidy of up to HKD 2.5 million for digital bond issuance to promote Hong Kong as a tokenized venue.

ChainCatcher news, according to the Hong Kong Monetary Authority, JPMorgan, R3, and WeBank will join the Ensemble project architecture working group as new members. Previously, the working group members included the Monetary Authority, the Securities and Futures Commission, the Hong Kong Centre under the Bank for International Settlements Innovation Hub, the CBDC Expert Group, and seven private institutions.In addition, China Construction Bank (Asia) Corporation Limited, Fubon Bank (Hong Kong) Limited, Yintong, and OSL Digital Securities Limited will become new participants in the Ensemble project and will conduct testing on fixed income and investment fund use cases in the Ensemble sandbox.

ChainCatcher news, the Hong Kong Monetary Authority has released a summary of the consultation on the proposed renaming of virtual banks, stating that virtual banks will be renamed as "digital banks," and guidelines will be revised to implement the new name as soon as possible.During the consultation period, a total of 26 submissions were received, including from industry or professional organizations, virtual banks, and citizens. Respondents generally supported the renaming proposal, with most also agreeing to the suggested new name "digital banks." The Monetary Authority will revise the guidelines on the "Recognition of Virtual Banks" to implement the new name digital banks as soon as possible.

ChainCatcher news, according to Hong Kong media Xinbao, Standard Chartered Hong Kong, BlackRock, and Mastercard will join hands to participate in the second phase pilot program of the "Digital Hong Kong Dollar" launched by the Monetary Authority. The newly formed tripartite alliance will explore tokenized investment use cases in an end-to-end manner. This potential solution will allow investors to purchase tokenized assets and conduct transaction settlements directly through the digital Hong Kong dollar or tokenized deposits with relevant asset managers.Libeara, nurtured by SC Ventures under Standard Chartered Group, will collaborate with Standard Chartered Hong Kong and BlackRock to provide a platform, jointly promoting the potential issuance of tokenized assets through Mastercard's multi-token network.

ChainCatcher news, according to the Hong Kong Monetary Authority (HKMA) official website, the HKMA today launched the second phase of the "e-HKD" pilot scheme, further exploring new types of digital currencies that individuals and businesses can use, including "e-HKD" and tokenized deposits. The project name has been changed to "e-HKD+" to reflect a broader exploration of the digital currency ecosystem. 11 selected institutions will conduct innovative use case studies in three major areas: tokenized asset settlement, programmability, and offline payments. This phase of research will help the HKMA understand the design and operational issues that may arise in a digital currency ecosystem where public and private coexist.

ChainCatcher news, according to Sina Technology, Ant Group has posted multiple RWA architect positions on overseas social media platforms, all located in Hong Kong. Sources reveal that these new hires will participate in the sandbox work of the Hong Kong Monetary Authority's (HKMA) wholesale central bank digital currency Ensemble project.

ChainCatcher news, Hong Kong Monetary Authority Vice President Li Dazhi commented on the 19th that the Federal Reserve's current interest rate hike cycle began in March 2022 and lasted until July 2023, during which a cumulative increase of 525 basis points occurred. After a period of fluctuations, U.S. inflation has largely confirmed a decline, and there are also signs of a slowdown in the labor market recently. Therefore, the Federal Reserve decided to cut interest rates by 50 basis points, which roughly aligns with market expectations. (Jin Shi)

ChainCatcher news, the Hong Kong Monetary Authority has lowered the benchmark interest rate by 50 basis points to 5.25%.Previous news, the Federal Reserve announced a rate cut of 50 basis points in the early morning.

ChainCatcher news, the Hong Kong Monetary Authority has launched the Ensemble project sandbox to promote tokenization applications. According to disclosed information, a total of 25 institutions are participating in the first phase, including the four major banks: HSBC, Bank of China Hong Kong, Hang Seng Bank, and Standard Chartered, as well as Ant Group and HashKey Group.The first phase of the sandbox will focus on four major tokenized asset use case themes: fixed income and investment funds, liquidity management, green and sustainable finance, and trade and supply chain financing.Hang Seng Bank's Executive Director and CEO, Angela Wong, stated that this testing provides valuable experience for tokenized deposits and asset trading, helping to improve the efficiency of existing settlement processes and reduce settlement risks, laying the foundation for the future development of new financial market infrastructure. Following this sandbox test, Hang Seng will continue to actively participate in the testing and research of Ensemble project use cases.

ChainCatcher news, the Hong Kong Monetary Authority held the launch ceremony for the Ensemble project sandbox today, announcing that the first phase of the experiment will cover four major tokenized asset use case themes, marking an important step forward in the practical application of tokenization technology in the financial industry.

ChainCatcher news, according to a report by Hong Kong 01, the President of the Hong Kong Monetary Authority, Yu Weiwen, stated that looking ahead, with the diversified development of virtual banks and traditional banks, the Monetary Authority believes that the current number of virtual bank licenses is appropriate, and there is no need to introduce more new virtual bank participants into the market at this stage.In terms of business and financial performance, virtual banks faced challenges in their early stages of operation, primarily due to the impact of the COVID-19 pandemic, and none of the eight virtual banks had achieved profitability by the end of 2023.However, over the past three years, virtual banks have recorded moderate business growth, and operational performance has continued to improve. From the fiscal year 2021 to 2023, their overall operating income increased sevenfold, and net losses narrowed by 15%.

ChainCatcher news, the Hong Kong Monetary Authority today published a review report on virtual banks. According to the review results, the development of virtual banks has now achieved the three policy objectives set for the introduction of virtual banks in Hong Kong. In addition, the technology-driven innovative banking business model of virtual banks has been widely accepted in the Hong Kong market. As of the end of 2023, the number of virtual bank account holders has reached 2.2 million. The market response to the products and services offered by the eight virtual banks has been positive. Meanwhile, the Monetary Authority also launched a one-month public consultation today on the proposal to rename "virtual banks" to "digital banks." It is expected that the proposed new name will more effectively reflect the current banking business model of virtual banks.

ChainCatcher news, Fang Hongjin, co-chairman of the Hong Kong Blockchain Association, recently stated that the Hong Kong government's foreign exchange fund should continuously purchase and hold Bitcoin for the long term to enhance the diversification and anti-inflation properties of the foreign exchange fund's assets, breaking free from reliance on a single dollar asset and increasing the autonomy of financial policy.At the same time, early acquisition of Bitcoin can establish international market discourse power and utilize Bitcoin's staking financing characteristics to respond to international speculative attacks on Hong Kong's linked exchange rate.Moreover, this initiative will provide financial credit assurance for Hong Kong's ambition to become the international Web 3.0 capital. Fang Hongjin pointed out that Bitcoin's characteristics as digital gold have gradually been accepted by the international traditional financial industry, and many central banks around the world may follow the trend of adopting Bitcoin as a reserve asset. For example, in 2021, El Salvador announced that it would adopt Bitcoin as an official currency anchor asset, while Switzerland has also passed legislation to include Bitcoin in its national bank reserve assets. The United States may also classify Bitcoin as a national strategic asset reserve, which will further drive demand for Bitcoin from central banks and traditional financial institutions.Fang Hongjin believes that Bitcoin is expected to become an international financial mainstream asset on par with or even surpassing gold. Currently, Bitcoin's market capitalization is approximately $1.4 trillion; if its market capitalization reaches the level of gold, the price of one Bitcoin could soar from the current $68,000 to nearly $600,000. Therefore, allocating a certain proportion of Bitcoin in Hong Kong's foreign exchange fund and holding it for the long term can increase the stability and autonomy of Hong Kong's finance.

ChainCatcher message, the Hong Kong Monetary Authority stated on platform X that due to its initiatives such as the stablecoin issuer sandbox to promote the development of digital assets, individuals should be wary of scammers. Explore digital assets safely, understand their nature and risks, carefully assess personal risk tolerance, and make informed decisions.

ChainCatcher news, Hong Kong Monetary Authority Vice President Chen Weimin pointed out in an article for "Hui Si" that the main application scenarios proposed by the first batch of institutions participating in the "sandbox" include payment, supply chain management, and capital market use cases. The participating institutions in the "sandbox" also proposed other use cases, including Web3, gaming, and virtual asset trading. Entering the "sandbox" is not a prerequisite for future license applications; if the participating institutions in the "sandbox" intend to obtain a license, they must submit a formal application separately after the regulatory framework is implemented.