According to the South China Morning Post, blockchain-based securities are emerging in Hong Kong and will further expand the local distributed ledger financial market. Allen Huang, associate dean of the Hong Kong University of Science and Technology (HKUST) Business School, pointed out that the development of the Web3 industry in Hong Kong will help consolidate Hong Kong’s image as a financial center promoting the blockchain ecosystem, and blockchain securities are all on public blockchains issued. Analysts believe that these securities products are seen as another way for Hong Kong to expand its Web3 footprint. With its digital-first strategy and strong cross-border trade economy, it is only a matter of time before digital native financial assets become commonplace in Hong Kong. Allen Huang added that while public blockchains can enhance shareholder confidence by providing greater transparency, they will not enforce the privacy features required for regulated finance, so some information may remain off-chain.