Hong Kong’s Securities and Futures Commission (SFC) plans to introduce an Innovation Pathway linking tokenized funds with digital currencies to improve liquidity and treasury-management efficiency. Ng Ka-lee, Executive Director of the SFC’s Investment Products Division, said the first tokenized money market funds are already conducting secondary-market trading on licensed platforms, with a tokenized gold ETF pilot expected next. Hong Kong has 17 approved tokenized retail products covering money market funds, gold products and ETFs, with $1.3 billion in assets under management. Over the medium to long term, the SFC plans to promote tokenized assets as collateral, broaden on-chain tokenization of equities and bonds, and explore smart contracts for investment decisions and automated trading. Earlier material identified the executive as Wu Jiali; the latest report names the official as Ng Ka-lee.