Hong Kong could potentially double the size of its asset management industry by adopting token-based financial infrastructure, according to a new whitepaper from Boston Consulting Group, Aptos Labs, and Hang Seng Bank. The findings are based on a pilot conducted under Phase 2 of the Hong Kong Monetary Authority’s Project e-HKD+, which tested tokenized fund operations and digital money use cases.
The report concluded that tokenized finance is both technically viable and commercially attractive, citing benefits such as reduced operational costs, lower counterparty risk, and continuous liquidity through 24/7 trading and settlement. Survey data showed strong investor interest, with a majority of retail participants indicating a willingness to increase fund allocations if tokenized products offered faster settlement and round-the-clock access.
BCG said broader adoption will depend on regulatory alignment, scalable infrastructure, and new business models that meet institutional standards. The report emphasized coordinated execution between regulators, banks, and technology providers to transition tokenization from pilot programs to core financial infrastructure.
