Hong Kong Secretary for Financial Services and the Treasury: Tokenized green bond settlement cycle shortened to T+1

On July 7th, according to Ming Pao, Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, stated that the settlement cycle for tokenized green bonds issued by the Hong Kong government has been shortened from the 5th trading day after the transaction date (T+5) to T+1. Tokenization improves the speed of fund transfer and transaction efficiency. Digital assets and their blockchain technology can reduce transaction friction costs. Tokenization can improve the speed of fund transfer and transaction efficiency, and it is hoped that it can be widely used and connected to the real economy. [Shenchao TechFlow]