PANews reported on October 30 that according to Ledger Insights, the Hong Kong Monetary Authority (HKMA) announced that it will cooperate with the central banks of Brazil and Thailand to promote cross-border asset tokenization transactions, including atomic settlement (DvP) of digital asset transactions and cross-border payment (PvP) of wholesale CBDC. HKMA also plans to launch a "Digital Bond Funding Program" to provide up to HK$2.5 million in funding for eligible digital bond issuances to promote the development of Hong Kong as a tokenization center.

HKMA has previously issued two government green bonds, one of which was a traditional issuance and the other was a native digital issuance. The latter was worth over US$750 million, which was the largest digital bond in the world at the time. This cooperation with the Brazilian Central Bank's DREX project and the Hong Kong Ensemble project aims to tokenize cross-border transactions, including trade finance and carbon credits.