Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, stated that Hong Kong's tokenization progress is moving from the experimental stage to the implementation stage. Currently, Hong Kong is home to over 1,400 fintech companies, including 8 virtual banks, 4 virtual insurance companies, and 12 licensed virtual asset trading platforms. The Hong Kong Stock Exchange plans to launch a pilot program for tokenized warehouse receipt financing next year, collaborating with designated banks to use distributed ledger technology to provide commodity warehouse receipts as collateral. It is also building a multi-asset tokenization platform to incorporate commodity warehouse receipts from recognized warehouses. (Source: Zhitong Finance)
