Wiki · Deployments
Deployments
Live tokenised instruments and products in production, sourced and dated. 29 tracked, 14 in APAC. Pilots and announcements live in Catch up until they settle real value.
Tokenised money market and treasury funds
10 instruments · figures carry their as-of datesDelta Wellington Ultra Short Treasury On-Chain FundULTRAAPAC
FundBridge Capital · Wellington Management Singapore · USD · launched Feb 2025
$132.1mas of Jun 2026
MG999 On-Chain Gold FundMG999APAC
FundBridge Capital · launched Dec 2025
·Launched Dec 2025
OpenEden TBILL VaultTBILLAPAC
OpenEden · USD
$123.8mas of May 2026
Fiat-referenced stablecoins
5 instruments · figures carry their as-of datesJPYC Inc. · JPY · launched Oct 2025
$17mas of Feb 2026
In practice
- Standard Chartered becomes the first G-SIB with integrated USDC minting and redemption Standard Chartered, CircleJul 2026Live
- Circle and Nium connect USDC settlement to last-mile payouts in 190+ countries Circle, NiumMay 2026Live
- Thunes brings USDC stablecoin payouts to 11,500 Swift-connected banks Thunes, CircleMar 2026Live
- StraitsX settles Alipay+ and GrabPay cross-border merchant payments on-chain StraitsX, Alipay+ (Ant International), GrabOct 2024Live
Yield-bearing dollar tokens
4 instruments · figures carry their as-of datesCompounding Open DollarcUSDOAPAC
OpenEden · USD
·Production
OpenEden Open DollarUSDOAPAC
OpenEden Digital · USD
$27.1mas of Jun 2026
Tokenised deposits and bank money
6 instruments · figures carry their as-of datesDCJPYAPAC
DeCurret DCP · JPY
·Production
Wells Fargo · USD
·Production
In practice
- Citi Token Services takes 24/7 USD interbank clearing live with Siam Commercial Bank Citi, Siam Commercial Bank, Phillip Securities ThailandJul 2026Live
- Standard Chartered settles Ant International treasury on tokenised deposits Standard Chartered, Ant InternationalDec 2025Live
- Kinexys wins Siemens and B2C2 mandates for live on-chain FX settlement J.P. Morgan / Kinexys, Siemens, B2C2Oct 2025Live
- Kinexys settles Ant International on-chain USD-EUR FX in Asia J.P. Morgan / Kinexys, Ant InternationalAug 2025Live
- HSBC settles Ant International treasury on its Tokenised Deposit Service HSBC, Ant InternationalMay 2025Live
- DBS Token Services launches tokenised, programmable institutional banking DBSOct 2024Live
- Partior runs live 24/7 multi-currency interbank settlement Partior (DBS, J.P. Morgan, Standard Chartered, Temasek), Siemens, iFAST, Deutsche BankJul 2024Live
- DCJPY goes into production with GMO Aozora tokenised-deposit settlement DeCurret DCP, GMO Aozora Net Bank, Internet Initiative JapanJul 2024Live
Tokenised bonds and digital debt
2 instruments · figures carry their as-of datesHKMC inaugural public digital bondAPAC
Hong Kong Mortgage Corporation · HKD · launched Jun 2026
HK$12bn (~US$1.53bn)as of Jun 2026
In practice
- DTCC processes the first live production trades in tokenised securities DTCCJul 2026Live
- HKSAR Government issues the world's first multi-currency digital green bonds HKMA, HKSAR Government, HSBC (Orion), Bank of China (Hong Kong), Goldman Sachs, UBSFeb 2024Live
Tokenised private credit and alternatives
2 instruments · figures carry their as-of datesApollo Global Management · Securitize · USD · launched Jan 2025
·Launched Jan 2025
Centrifuge JAAAJAAA
Centrifuge · Janus Henderson Anemoy · USD
$1bn+ AUM (fastest tokenised fund to the milestone)as of Jun 2025
01Official-sector programmes and who is in them
Notable institutions per programme- Project GuardianMAS · 40+ industry participants
- Project AgoráBIS + 7 central banks · 41 private firms
- Project EnsembleHKMA + SFC · 25 sandbox participants
- Project AcaciaRBA + DFCRC · 5 major banks
- mBridge5 central banks · post-graduation
- See the programme profiles →
02Stablecoin and e-money regimes by market
/licensing owns the detailRegulatory status of the stablecoin or e-money issuance framework in each tracked jurisdiction. Statuses: enacted, consultation, proposed, none.
16 jurisdictions mapped, 62 licences tracked activity by activity on the licensing map →
03APAC tokenised bond issuances
By programme, sourced figures onlyAPAC tokenised bond issuances, by programme
Upd. 2026-07-30Issuance size of individual APAC tokenised-bond programmes, one datapoint per issuance. Only figures with a citable issuer, regulator, or reputable-news source are published.
Scroll to see the full chart
HKMC digital bond: As of 2026-06-11. Source: HKMA.
HKSAR green bond (3rd): As of 2025-12-16. Source: HSBC HK newsroom.
HKSAR digital green bond (2nd): As of 2024-02-07. Source: HKMA.
Philippines tokenised treasury bonds: As of 2023-11-22. Source: Bloomberg.
Zhuhai Huafa digital bond: As of 2024-12-23. Source: HSBC HK newsroom.
HSBC digitally native notes: As of 2024-09-26. Source: HSBC HK newsroom / CMU.
HKSAR tokenised green bond (inaugural): As of 2023-02-16. Source: HKMA.
MUFG digital subordinated bond: As of 2025-10-09. Source: MUFG.