Hong Kong Launches 24/7 Trading Framework for Tokenized Funds, AUM Reaches $1.37B

Gate News message, April 20 — Hong Kong’s Securities and Futures Commission (SFC) has launched a new regulatory framework allowing SFC-authorized tokenized products to be traded around the clock on licensed platforms, including overnight and on weekends. As of March 2026, 13 tokenized products have been sold to the public, with total assets under management (AUM) for tokenized shares reaching HK$10.7 billion (approximately $1.37 billion USD), representing roughly sevenfold growth over the past year.

The framework integrates traditional finance with the Web3 ecosystem through regulated stablecoins and tokenized deposits. SFC CEO Liang Fengyi stated: “This initiative allows traditional securities products to be traded at night and on weekends after tokenization, and promotes all-weather liquidity through the use of regulated stablecoins and tokenized deposits.” The initial batch of eligible products will focus on low-risk funds to ensure stable operations. To support 24/7 trading, the Hong Kong Monetary Authority (HKMA) and SFC are building a three-layer digital money infrastructure, including EnsembleX (launched November 2025 with participants such as HSBC, Standard Chartered, and Bank of China) and EnsembleTX, a platform for settling tokenized deposits between banks.

The HKMA implemented a mandatory licensing regime for fiat-referenced stablecoins in March 2026, requiring a minimum HK$25 million capital and full reserve backing. However, as of April 2026, the regulator has not yet issued any licenses, having missed its self-imposed March deadline. SFC Executive Director Yip Chi-hang confirmed this is the first globally predictable framework for trading tokenized authorized funds and noted the SFC is also developing frameworks for perpetual contracts and margin financing for virtual assets.