Seven banks in Hong Kong are set to launch tokenized deposit products by the end of 2025, as per recent reports from Foresight News. This development has been confirmed by Zhou Wenzheng, Assistant President for Financial Infrastructure at the Hong Kong Monetary Authority (HKMA). The initiative comes amid heightened interest in tokenized deposits within Hong Kong’s financial sector. Li Dazhi, Deputy President of the HKMA, provided further clarity regarding the authority’s stance on digital Hong Kong dollars, stating that they have not ruled out the potential for retail use of stablecoins. He emphasized the practical applications of stablecoins for retail transactions will ultimately depend on commercial entities.