HANG SENG BANK(HK:00011) Sou Hu Cai Jing·2026-02-07 23:50Core Insights - The report by BCG, Aptos Labs, and Hang Seng Bank highlights the exponential growth opportunities for Hong Kong's fund industry driven by digital currency and tokenization, predicting a doubling in industry size by 2026 [1][2]. Group 1: Overview of Digital Currency and Tokenization - The traditional financial messaging system is inefficient and slow, while the tokenization system offers direct value transfer, programmability, and instant settlement, marking a new direction for financial evolution [1][2]. - By November 2025, the market capitalization of fiat-backed stablecoins is expected to exceed $300 billion, with over 130 central banks exploring central bank digital currencies (CBDCs) [1][2]. - The market for tokenized funds is projected to grow from $2 billion in 2024 to over $8 billion in 2025, with a compound annual growth rate (CAGR) exceeding 50% from 2025 to 2033 for digital currencies and tokenized assets [1][2]. Group 2: Pilot Projects and Market Demand - A pilot project under the Hong Kong Monetary Authority's "Digital HKD+" initiative demonstrated the technical feasibility of using Aptos' public permissioned blockchain for tokenized fund transactions, achieving sub-second finality and low transaction costs [2][16]. - A survey of 500 investors revealed that 97% are interested in the unique features of tokenized funds, with 61% willing to double their fund allocation [2][17]. Group 3: Regulatory and Infrastructure Development - Hong Kong is advancing towards becoming a global hub for on-chain finance, having introduced regulations such as the "Stablecoin Ordinance" and the LEAP policy framework to build a comprehensive digital asset ecosystem [2][18]. - The report emphasizes the need for the industry to focus on technology promotion, regulatory improvement, and business model innovation to establish interoperability standards and enhance ecosystem collaboration [2][19]. Group 4: Future Growth and Market Dynamics - The integration of digital currencies and tokenized assets is expected to reshape the global financial infrastructure, with digital currencies providing a low-cost, programmable settlement layer essential for the growth of tokenized assets [1][60]. - The market for tokenized assets has already seen significant growth, with tokenized bonds and funds leading the way, and the trend is expected to expand into private credit and derivatives [1][56][59].