Sifang Jingchuang: Cooperate with Hong Kong compliance supervision to develop more non-Hong Kong token issuances

Chen Yaowen, Chief Digital Officer and Financial Technology Innovation Director of Sifang Jingchuang, a listed company on the A-share market, said in an interview with Hong Kong media Ming Pao that Hong Kong can play a hub role in tokenization and the resulting secondary market, and construct relevant financial infrastructure. Sifang Jingchuang can develop more token issuances outside Hong Kong under the compliance supervision of Hong Kong. Chen Yaowen added that Sifang Jingchuang has developed solutions in the virtual asset application field that are combined with bank-level applications and integrated into the banking systems of banks such as East Asia Bank, which can be used in conjunction with token operations, accelerating the adoption of relevant technology in the banking industry to handle the issuance, custody, and payment of securities-type tokens (STOs). Hong Kong has seen the embryonic form of tokenization promoted, which will help promote cross-border payments and the formation of secondary markets for tokens in the long run.