How Hong Kong’s fintech strategy is progressing – and where growth still lags

AI Summary

Hong Kong says its five-year fintech strategy has made rapid progress in its first year, with plans to put greater emphasis on AI and tokenisation. The Hong Kong Monetary Authority says tokenisation has advanced beyond sandbox trials, including 17 authorised tokenised public funds, though achieving commercial scale remains a challenge.

Hong Kong has touted rapid progress in the first year of its five-year fintech strategy, pledging to double down on artificial intelligence and tokenisation even as many initiatives face the challenge of achieving commercial scale. Tokenisation, for instance, had moved from the sandbox “into the real world”, said Eddie Yue Wai-man, chief executive of the Hong Kong Monetary Authority (HKMA), at the city’s annual FinTech Week conference on Monday. Hong Kong had authorised 17 tokenised public funds...