Tokenisation a ‘defining trend’ for Web3 in Hong Kong as city hosts major Consensus event

Hong Kong is intensifying its focus on tokenisation and stablecoins to bolster its Web3 industry, the financial services secretary said ahead of a major international blockchain conference, as the city’s virtual asset push faces increased competition from the US.

Tokenisation is one of the “defining trends” and a “profoundly transformative” development that could reshape traditional financial markets, Secretary for Financial Services and the Treasury Christopher Hui Ching-yu said in a keynote speech on Tuesday at Consensus Hong Kong 2025.

Tokenisation refers to the process of creating tradeable tokens on a blockchain that represent ownership of real-world assets.

HSBC in March last year launched a tokenised gold product called HSBC Gold Token for its retail customers in Hong Kong.