HKMA launches Supervisory Incubator to foster responsible adoption of distributed ledger technology
The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) launched the Supervisory Incubator for Distributed Ledger Technology (the Incubator) today (January 8) to help banks responsibly unlock the transformative potential of distributed ledger technology (DLT).
The Incubator is a new supervisory arrangement designed to help banks maximise the potential benefits of DLT adoption by effectively managing the associated risks. It will augment risk management capabilities at both the individual bank and industry levels, with a particular focus on addressing those risks that may arise as banks move to productionise relevant services (e.g. deposits and loans) that cut across DLT-based and legacy banking infrastructures. As part of this effort, tokenised deposits - which have attracted significant production interest from industry - will be a core focus upon the Incubator's inception.
At the individual bank level, the Incubator will offer a one-stop supervisory platform that enables banks to reaffirm the adequacy of their risk management controls prior to the full launch of a DLT-based initiative. By leveraging this platform, banks will have access to a dedicated team from the HKMA for obtaining supervisory feedback and may opt to conduct live trials to validate and refine specific aspects of their risk management implementation under a hands-on and iterative approach, as needed.
The Incubator will also promote industry awareness and understanding of best practices in DLT risk management through a range of targeted initiatives, such as supervisory guidance, industry sharing sessions, and forward-looking research projects. Collectively, these initiatives will enhance the overall industry's ability and readiness to deploy DLT-based solutions in the long run.
Deputy Chief Executive of the HKMAMr Arthur Yuensaid, "As the banking industry continues to evolve, it is essential that we provide a supportive environment for innovation to thrive. The Supervisory Incubator for DLT is a key component of our strategy to foster the development of DLT-based banking solutions that are safe, efficient, and beneficial to the industry and the wider community."
The HKMA announced the launch of the Incubator during the fourth edition of the FiNETech series (FiNETech4), which brought together over 300 professionals from the banking, securities, insurance, mandatory provident fund and technology sectors to explore how DLT could help the financial industry break new frontiers, including with respect to transaction efficiency and information utilisation. The FiNETech series was established in April 2024 as a signature initiative of the HKMA's ongoing work to promote fintech adoption across the industry, and is supported by financial regulators (Note 1), industry associations (Note 2), as well as technology communities(Note 3), and powered by market experts (Note 4).
Note 1:The HKMA, the Securities and Futures Commission, the Insurance Authority and the Mandatory Provident Fund Schemes Authority.
Note 2: The Hong Kong Association of Banks and the FinTech Association of Hong Kong.
Note 3: Cyberport and the Hong Kong Science and Technology Parks Corporation.
Note 4: KPMG and Quinlan & Associates.
HKMA launches Supervisory Incubator to foster responsible adoption of distributed ledger technology Source: HKSAR Government Press Releases
HKMA launches Supervisory Incubator to foster responsible adoption of distributed ledger technology Source: HKSAR Government Press Releases
HKMA launches Supervisory Incubator to foster responsible adoption of distributed ledger technology Source: HKSAR Government Press Releases
HKMA launches Supervisory Incubator to foster responsible adoption of distributed ledger technology Source: HKSAR Government Press Releases
Hong Kong and Macao cohost investment promotion seminar to encourage Macao enterprises to expand overseas via Hong Kong
The Chief Executive, Mr John Lee, met with the Chief Executive of the Macao Special Administrative Region, Mr Sam Hou-fai, at Government House last month to exchange views on further promoting Hong Kong's co-operation with Macao and the high-quality development of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). To implement and enhance co-operation between the two places, Invest Hong Kong (InvestHK) cohosted an investment promotion seminar with the Commerce and Investment Promotion Institute of the Macao Special Administrative Region in Macao yesterday (March 6), receiving about 90 local representatives from various sectors, including manufacturing, branding, retail, food and beverage (F&B), import and export trading, as well as chambers and associations. The seminar aimed to update Macao enterprises on Hong Kong's latest business environment and new opportunities, especially in retail, F&B and trade sectors, encouraging them to leverage Hong Kong's unique advantages to expand overseas.
Entitled Macao Enterprises Expansion Series - Hong Kong's New Business Opportunities Seminar (Retail, F&B and Trade), the seminar marked the first collaboration between the two promotion agencies in 2025, aiming to enhance learning from each other and strengthen co-operation between the two cities, as well as to explore new business opportunities in the GBA.
"Hong Kong and Macao share a strong bond as dynamic and complementary economies within the GBA," said Associate Director-General of Investment Promotion at InvestHK Mr Arnold Lau. "Macao goods have long been a favourite among Hong Kong consumers, showcasing the strong cultural and economic ties between the two vibrant cities. By expanding into Hong Kong, Macao enterprises can extend their reach not only to the local market, but also promote their products to the international and Mainland visitors passing through Hong Kong. Moreover, Hong Kong has many trade shows that attract international buyers. The city is an ideal platform for Macao enterprises to connect to the world and expand globally," he explained.
At the seminar, the President of the Commerce and Investment Promotion Institute of the Macao Special Administrative Region, Mr Vincent U, said, "Hong Kong and Macao have maintained close business co-operation and commercial ties for many years, including holding joint investment promotion activities to promote opportunities in the GBA. Building on this long-standing collaboration, we aim to further strengthen two-way investment co-operation and explore more opportunities for Hong Kong-Macao collaborations and the development of the GBA market."
The Head of Consumer Products of InvestHK, Ms Angelica Leung, and the Head of Tourism and Hospitality of InvestHK, Ms Sindy Wong, highlighted the latest industry trends and shared case studies respectively with Macao enterprises during the seminar, helping them to gain a better understanding of Hong Kong's market and advantages. They also provided information on the latest government policies, including details on industry events and available funding support to help businesses expand, enhance competitiveness through digital transformation and explore international markets. Macao enterprises that have a presence in Hong Kong also shared their practical insights at the event, encouraging local enterprises to raise brand awareness and "go global" via Hong Kong.
InvestHK will continue to collaborate with related Macao organisations to jointly promote business opportunities in Hong Kong, assisting local enterprises to expand overseas via the city.
Hong Kong and Macao cohost investment promotion seminar to encourage Macao enterprises to expand overseas via Hong Kong Source: HKSAR Government Press Releases
Hong Kong and Macao cohost investment promotion seminar to encourage Macao enterprises to expand overseas via Hong Kong Source: HKSAR Government Press Releases
Hong Kong and Macao cohost investment promotion seminar to encourage Macao enterprises to expand overseas via Hong Kong Source: HKSAR Government Press Releases
Hong Kong and Macao cohost investment promotion seminar to encourage Macao enterprises to expand overseas via Hong Kong Source: HKSAR Government Press Releases
Hong Kong and Macao cohost investment promotion seminar to encourage Macao enterprises to expand overseas via Hong Kong Source: HKSAR Government Press Releases
Hong Kong and Macao cohost investment promotion seminar to encourage Macao enterprises to expand overseas via Hong Kong Source: HKSAR Government Press Releases
