According to Odaily, since the release of the 'Policy Declaration on the Development of Virtual Assets in Hong Kong' in October 2022, the government has frequently introduced new policies. For instance, in April of this year, the local market made history by introducing Bitcoin and Ethereum spot ETFs. Hong Kong is not lagging behind in the real-world asset (RWA) investment market either. The Securities and Futures Commission (SFC) has recently made it clear that the issuance of security tokens (STOs) and RWA investments may be opened to retail investors, further expanding the virtual asset market and attracting more capital and fintech talent to Hong Kong.
In February of last year, the government successfully issued HKD 800 million in tokenized green bonds, which is a typical example of an RWA tokenization project. In addition, in November of last year, the SFC issued a 'Circular on Recognized Investment Products', which listed the requirements for the SFC to consider allowing the tokenization of investment products offered to the public in Hong Kong under Part IV of the 'Securities and Futures Ordinance'. Apart from tokenized securities, the SFC has already taken steps towards recognizing tokenized investment products.
In fact, as early as September of last year, Tai Chi Capital launched the PRINCE Token, which is the first real estate fund STO aimed at professional investors in Hong Kong. This STO is the first fund tokenization fundraising model approved by the SFC.