[HSBC Advances Tokenization of Central Bank Money and Deposits] Sun Lei, Global Head of Local and Innovative Payment Products at HSBC Global Payment Solutions, stated that the Hong Kong Monetary Authority (HKMA) is working with HSBC to explore tokenized central bank money (CeBM). CeBM is a digital infrastructure that complements the Real-Time Gross Settlement (RTGS) system, though there is currently no specific timeline. Additionally, HSBC has long invested resources in advancing tokenized deposit businesses, and it is estimated that even if only 5%-10% of commercial bank deposits are tokenized, their scale would surpass that of any existing cryptocurrency.