According to the Hong Kong Economic Journal, Taiji Capital Group today launched the first real estate fund security token issuance in Hong Kong (#STO ). The closed-end fund managed by its subsidiary Pioneer Asset Management issued the token PRINCE, which is aimed at professional investors and aims to raise about HK$100 million. If approved by regulators, the group plans to use the tokens for listing on its virtual asset trading platform HKbitEX in the future. The entry fee for the STO project is only HK$1,000. When the tokens are listed on the virtual asset trading platform, they can be traded in the secondary market 24 hours a day in the future. Investors' ownership is also clearly recorded on Ethereum or other blockchains. Investors' returns include rental income and future property appreciation. Zhang Zhongyu, vice president of capital markets and wealth management business of Taiji Capital Group, said that after signing the subscription agreement, investors open an account with a wallet, and the corresponding tokens will be issued after successful subscription. Assuming there is a loss such as the theft of tokens, the fund company will "cover" and compensate investors at the request of the Securities and Futures Commission.
Token securitization should be a trend.
