Daily Fintech / Payments Brief

Daily Fintech / Payments Brief — 2026-09-25 — https://fintech-digest.pages.dev/2026-09-25/index.html 1. The Clearing House selects Quant for tokenized deposit interoperability - Why it matters: It signals that a major U.S. payment-system operator is trying to make tokenized deposits usable through mainstream bank rails, which could speed adoption of programmable commercial-bank-money payments. - HKMA Relevance: Direct: This is a tokenized-deposits and payments-infrastructure development in mainstream banking, directly relevant to the same tokenisation and settlement agenda central banks including the HKMA are pursuing. - 👉 Full details: https://fintech-digest.pages.dev/2026-09-25/1-the-clearing-house-selects-quant-for-tokenized-deposit-inter.html 2. UK tokenized deposit platform GBTD conducts first live transactions - Why it matters: The live pilot gives a real-world test of programmable commercial bank money for retail payment flows such as remortgages, offering a bank-based alternative to stablecoin-style settlement for some use cases. - HKMA Relevance: Direct: This is a UK market digital-money and payments development tied to commercial bank money and the broader central-bank agenda on tokenisation, making it directly relevant to the HKMA’s own work on digital money infrastructure. - 👉 Full details: https://fintech-digest.pages.dev/2026-09-25/2-uk-tokenized-deposit-platform-gbtd-conducts-first-live-trans.html 3. FedNow to enable cross-border payments - Why it matters: If adopted, the change would let U.S. financial institutions plug FedNow into cross-border payment chains, potentially speeding the domestic settlement leg of international transfers and expanding real-time payment use cases. - HKMA Relevance: Direct: This is a U.S. central-bank payments-policy move on cross-border instant payments, a core area of interest for the HKMA as a peer monetary authority working on similar payments and settlement questions. - 👉 Full details: https://fintech-digest.pages.dev/2026-09-25/3-fednow-to-enable-cross-border-payments.html 4. IBM integrates Digital Asset Haven with Swift’s shared ledger in beta - Why it matters: The update could reduce integration work for banks testing tokenized deposits by letting them use familiar ISO 20022 processes rather than building separate blockchain-specific messaging flows. - HKMA Relevance: Direct: This concerns Swift-based tokenized-payment infrastructure, a central-bank-relevant area closely aligned with the HKMA’s work on digital money, settlement modernization, and cross-border payments. - 👉 Full details: https://fintech-digest.pages.dev/2026-09-25/4-ibm-integrates-digital-asset-haven-with-swifts-shared-ledger.html 5. SEC exemption opens a five-year path for tokenized U.S. stock trading on permissioned onchain venues - Why it matters: The story suggests U.S. regulators are distinguishing between fully rights-bearing tokenized equities and looser crypto stock proxies, which could shape how regulated tokenized securities markets develop. - HKMA Relevance: Direct: This is a U.S. securities-regulatory move on tokenized market infrastructure, an area closely relevant to central-bank and monetary-authority work including the HKMA’s tokenisation agenda. - 👉 Full details: https://fintech-digest.pages.dev/2026-09-25/5-sec-exemption-opens-a-five-year-path-for-tokenized-u-s-stock.html