Hong Kong treasurers are among the most advanced users of digital currencies across the Asia-Pacific (APAC), with financial institutions exploring crypto trading capabilities, stablecoins and tokenized structured products, in particular, with the expectation that such tools will lower transaction costs, and promote, according to new research by HSBC.
The study, drawn from interviews with 680 treasury and finance professionals across 11 APAC markets between March and July 2026, examined benefits, hurdles, risks, and next steps for digital currencies and artificial intelligence (AI) initiatives at financial institutions. It found that 73% of Hong Kong finance professionals believe that digital currency adoption will reduce costs, representing a 21-point rise over the 52% APAC average and showing stronger optimism.
Hong Kong treasurers and financial professionals also see innovation as a key driver, noted by 46% of respondents as a reason to adopt the technology, followed by supporting client demand for digital currencies, cited by 38% of respondents.
A proactive government
Finance professionals in Hong Kong are showing strong interest in digital currencies as the local government ranks among the most active in the region for exploring and adopting digital assets and tokenization.
The Hong Kong Monetary Authority (HKMA) has advanced the research and development of central bank digital currency (CBDC) since at least 2017. Its e-HKD journey commenced that year with Project LionRock, focusing on the use of CBDCs for financial institutions. The proof-of-concept (PoC) project studied potential applications of a digital form of the HKD in handling large-value payments and delivery-versus-payment settlements.
Since 2021, Project e-HKD has extended the use of the CBDC to retail scenarios by individuals and corporates. In September 2024, the project was renamed as Project e-HKD+ as it expanded its coverage to a more comprehensive exploration of the digital money ecosystem.
On tokenization specifically, the government and HKMA have explored tokenized and digital bonds since at least 2023. By September 2026, four digital green bond issuances had occurred, with the government committing to regular issuance and broader settlement capabilities.
HKMA is also involved in Project Ensemble, which began in 2024 as a wholesale digital money and asset settlement experiment, and moved into real-value pilot transactions in November 2025.
The project is scheduled to develop further throughout 2026, incorporating interbank settlement of tokenized deposit transactions via the HKD Real Time Gross Settlement (RTGS) system. The pilot environment will be progressively upgraded and enhanced to support settlement in tokenized central bank money on an around-the-clock basis.
Hong Kong treasurers and finance professionals were also asked about the likelihood of adopting digital currencies within two years. About 25% reported being very likely, while 17% indicated they were somewhat likely.
Respondents noted that broader adoption will depend on internal policies and clearer regulatory frameworks. Participants also want to see clear benefits and seek a stronger understanding of digital currencies before they move forward.
A more pragmatic stance on AI
Unlike digital currency, treasurers are taking a more practical view of AI. When asked how useful they expect AI to be in three years, more than 60% of treasurers said that it would be extremely or very useful while a sizeable minority, 39%, thought that it would only be somewhat useful.
Asked about their AI strategy, Hong Kong respondents ranked general tools for productivity as the leading approach, named by 48% of respondents. Another 9% use AI agents for automation, and 9% deploy custom tools for treasury tasks. More concerningly, 30% reported no AI adoption in treasury.
These findings suggest a superficial involvement with AI, showing ongoing hesitation about the technology and the lack of a comprehensive AI transformation strategy.
The HSBC research also found that most treasury officials are currently experimenting with AI for data analysis, research, summarization and drafting communication, slide generation, and Excel model review. The technology is seen as early-stage but effective as a second pair of eyes for model audits, faster visualization and clearer storytelling to stakeholders.
Sales and front-office functions in Hong Kong are often ahead of treasury when it comes to using AI, creating an internal gap between commercial and finance use cases. As in many other markets, the biggest in-demand use case for AI in the future will be for cash flow forecasting.
Hong Kong treasurers and finance professionals were also asked about the biggest barriers to AI adoption. Integration with existing systems topped the list, cited by 71% of respondents, followed by cost, and lack of expertise, cited by 53% each, and risks, named by 47%.
Legacy systems, talent shortage among top AI challenges
These findings align with prior studies. A Google and Hypothesis Group survey of 1,250 enterprise decision-makers in the US, including 311 from financial services, found that widespread AI deployment struggles with existing technology infrastructure.
55% of respondents from the financial industry said their organization will need significant investments to modernize their technology stack before it is ready to deploy AI at scale, while 74% noted that existing software actively limits their organization’s ability to take full advantage of AI.
Moreover, effective AI deployment requires a combination of financial knowledge, AI expertise and the ability to validate outputs and manage risks, yet, qualified AI talent remains scarce. According to the 2026 Talent Shortage Survey released in February 2026 by ManpowerGroup, AI skills have surpassed all other skills to become the most difficult for employers to find globally, overtaking traditional engineering and IT capabilities.
Featured image: Edited by Fintech News Hong Kong, based on image by nampix via Magnific
