👉👉👉 #HongKong investment banking giant launches first tokenized commercial paper on #Ethereum
GF Securities, a leading investment bank in Hong Kong, has launched Hong Kong's first tokenized commercial paper on the Ethereum blockchain, marking a significant development in the digital asset landscape. This move underscores Hong Kong's position as a leader in integrating blockchain technology with traditional finance.
Tokenization involves converting asset rights into digital tokens on a blockchain, aligning with the global trend of digitizing physical assets. ABT Tech, a Hong Kong-based blockchain firm, will provide technical support for this initiative.
The issuance complies with regulatory guidelines set by the Hong Kong Securities and Futures Commission (SFC), established in November to regulate innovative financial instruments.
Utilizing Ethereum offers benefits such as increased flexibility and independence for investors, allowing them to monitor and manage investments with greater autonomy. It also enables the creation of supplementary tools and solutions, democratizing investment access.
Globally, Real World Asset (#rwa ) tokenization is seen as the next phase of crypto development, potentially unlocking trillions of dollars into the blockchain industry. According to a BCG report, tokenized assets could reach a $16 trillion market by 2030.
Ripple, a U.S.-based blockchain payments company, is also exploring opportunities in tokenization, particularly in revolutionizing the real estate sector. GF Securities' move follows BOCI's partnership with UBS to issue tokenized notes on Ethereum in June 2023.
Source - crypto.news
