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Hong Kong's Secretary for Financial Services and the Treasury: Hong Kong's "tokenization" progress is moving toward the implementation stage.

PANews October 23 news, according to Zhitong Finance, Hong Kong Secretary for Financial Services and the Treasury Christopher Hui pointed out that Hong Kong's "tokenization" progress is moving from the "experimental stage" to the "implementation stage." Currently, Hong Kong has gathered 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 "tokenization."

Christopher Hui mentioned that HKEX is committed to launching a tokenized warehouse receipt financing pilot program next year. The project will cooperate 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 tokenization platform, which includes commodity warehouse receipts from recognized warehouses.

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