East Asia & Pacific · GDP rank #24
Hong Kong
HK · HKD @ 0.1276/USD
Tab 05
Cross-border
Inbound and outbound remittance corridors, tourism flows, FX markup on retail cross-border, and the country's posture on stablecoin adoption. Corridor figures come from the World Bank RPW feed or the publishing central bank; both are cited when they disagree.
Reported inbound corridors
1 corridor
Reported outbound corridors
3 corridors
Avg. consumer FX markup
Trend · compressing
Top inbound corridors
- China (Mainland)$200.0M
2.2% cost
Top outbound corridors
- Philippines$1.8B
via Western Union, WeRemit, EastWest Rural Bank partners, AlipayHK Philippines corridor · 3.1% cost
- Indonesia$900.0M
3.4% cost
- China (Mainland)$400.0M
2.8% cost
FX cost
What consumers pay above the interbank
Retail FX markup is the spread between the mid-market rate and the rate the consumer receives — the single largest friction point in small-ticket cross-border.
AlipayHK x GCash corridor (HK to Philippines) offers 0.5-1.2% all-in; Wise HK and Revolut HK active.
Consumer FX markup vs 3% ceiling
Benchmark 3% is the G20 target for average remittance corridor cost; above the mark is expensive by policy standard.
Trend · compressing
HKMA
Stablecoin Ordinance effective August 2025; licences expected Q4 2026. Industry consortium (HSBC, Bank of China HK, Standard Chartered) exploring HKD-pegged stablecoin under Project Ensemble sandbox.