Mr Joseph Chan, JP, Under Secretary for Financial Services and the Treasury, delivers his keynote speech
CB hosts seminar exploring tokenisation revolution
In response to the Hong Kong Government's promotion of tokenised asset development and the recent announcement of Project Ensemble Sandbox, a wholesale central bank digital currency (wCBDC) project, by the Hong Kong Monetary Authority, the banking industry is showing a growing interest in these emerging opportunities. Reflecting this trend, the College of Business, Joint Electronic Teller Services Limited (JETCO) and Laboratory for AI-Powered Financial Technologies Limited (AIFT) co-hosted a seminar titled “Tokenisation Revolution — Unleashing Banking's Growth Potential” on 22 May, attracting over 80 participants from the banking and financial industry.
Mr Joseph Chan, JP, Under Secretary for Financial Services and the Treasury, delivered the keynote address, reaffirming the government's commitment to positioning Hong Kong as a Web 3.0 financial hub. Professor Michael Wong, Associate Dean (Global Executive Programmes), emphasised the importance of managing asset-liability risk in this new financial landscape. He added, “It is the same crucial to learn about how to manage the asset-liability risk associated with them. Although the Basel Committee has revised the implementation of its cryptoasset standards to January 2026, it doesn’t mean that this is a remote issue.”
Professor Michael Wong, Associate Dean (Global Executive Programmes), shares his views on managing asset-liability risk
Mr Italo Borssatto, Adviser of the Bank for International Settlements (BIS) Innovation Hub Hong Kong Centre, provided updates on Project mBridge, Project Dynamo BIS and Project Ensemble, and how these projects support the development of tokenisation market. Mr Paul Li, General Manager of Banking Circle, Greater China region, discussed European developments and case studies, exploring Hong Kong market potentials including Deposit Token vs Stablecoin, potential benefits and challenges for banks, and the impact on the international settlement and cross-border payment industries.
The presentations collectively provided a comprehensive overview of why Hong Kong should invest in Web 3.0 and the potential benefits of embracing tokenised money.
Over 80 attendees attend to exchange insights and ideas on tokenisation
Share this
