The Hong Kong Monetary Authority (HKMA) has unveiled its "Supervisory Incubator for Distributed Ledger Technology" to aid banks in adopting DLT. Announced at the FiNETech4 event, this initiative aims to foster innovation in the banking sector by providing banks with support for live trials and risk management systems, initially focusing on tokenized deposits. The program also seeks to promote industry-wide DLT development through shared best practices and research. HKMA's Carmen Chu highlighted the potential for DLT to revolutionize financial transactions and create new revenue streams through innovative financial products.