Hong Kong's Blockchain and Digital Asset Pilot Subsidy Scheme has facilitated HK$230 million in asset tokenization

Odaily reports: Acting Secretary for Financial Services and the Treasury of Hong Kong, Joseph Chan, stated that Hong Kong's Blockchain and Digital Asset Pilot Subsidy Scheme has successfully funded nine pilot projects, covering areas such as real-world asset tokenization, payment and stablecoin infrastructure, security and risk management, and decentralized identity. As of June this year, it had facilitated a total of HK$230 million in asset tokenization.

In addition, as of September this year, the Hong Kong Securities and Futures Commission (SFC) has authorized 13 tokenized money market funds, one tokenized gold investment product, two gold ETFs (exchange-traded funds) with tokenized shares, and one covered call ETF with tokenized shares. (Hong Kong Government Press Release)