Hui Ching-yu: Hong Kong's "tokenization" is moving toward the implementation stage

Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, pointed out that Hong Kong's "tokenisation" progress is moving from the "experimental stage" to the "implementation stage." He noted that Hong Kong currently gathers more than 1,400 fintech companies, including 8 virtual banks, 4 virtual insurance companies, and 12 licensed virtual asset trading platforms, achieving excellent results in advancing "tokenisation." Hui mentioned that HKEX is committed to launching a tokenised warehouse receipt financing pilot scheme next year. The project will collaborate with designated banks and use distributed ledger technology to promote the use of commodity warehouse receipts as collateral. In addition, HKEX is also building a multi-asset tokenisation platform, which includes commodity warehouse receipts from recognised warehouses.