Hong Kong and Japan Drive Blockchain Adoption in APAC Cross-Border Payments

A recent study on cross-border payments news coverage has revealed that blockchain technologies are gaining traction in Asia, particularly in Hong Kong and Japan.

According to the 'The New Era of Asia's Cross-Border Payments' report by Money 20/20 and FXC Intelligence, 70% of articles discussing cross-border payments in Hong Kong focused on central bank digital currencies (CBDCs), stablecoins, or tokenization.

Hong Kong is preparing to issue its first batch of licenses to stablecoin providers following the introduction of the 'Stablecoin Ordinance' in December 2024.

In Japan, over half of reviewed cross-border payments articles discussed CBDCs, stablecoins, or tokenization, and the country has been making moves to provide a more comprehensive regulatory regime for blockchain technologies.