Strengthening its Position as a Pioneer in the RWA Market, DigiFT Opens a New Office in Hong Kong

Bittime - DigiFT, the first regulated stock exchange for blockchain-based real world assets (RWA) announced the strategic expansion of their business to Hong Kong. This expansion was marked by the appointment of a new Hong Kong-based leader and the company's membership in the Cyberport Incubation Program.

Cyberport is a digital technology pioneer and leading entrepreneurial incubator in Hong Kong with more than 2,000 members. This includes the 900 startups and technology companies housed there and around 1,100 companies out there. 

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Being accepted as a member of Cyberport's incubation program highlights DigiFT's strong capabilities and demonstrates the alignment of their compliant business development path, with a focus on developing real-world assets in Hong Kong.

The Hong Kong Monetary Authority (HKMA) in February this year set supervisory standards regarding the sale and distribution of products in the form of tokens (digital assets that represent ownership of an asset). 

This reflects Hong Kong's ongoing efforts to regulate the digital asset ecosystem and tokenization, as well as position itself as a leading center for financial innovation.

Also read: DigiFT Launches First RWA Depository Receipt (DR) Token, What is it? 

DigiFT CEO comments

Henry Zhang, Founder and CEO of DigiFT, said, "Being selected as a member of the Cyberport Incubation Program is a clear testament to our unique business proposition that continues to innovate. The program also reflects Hong Kong's unique vibrancy as one of the world's leading financial technology (fintech) hubs. ”

"Our expansion into the Hong Kong market is a natural next step in our growth plan to facilitate broader access to tokenized real-world assets," he continued.

In line with the strategic decision to expand their business to Hong Kong, DigiFT recently announced the appointment of two new executives. The two are Kevin Loo as CEO of DigiFT (Hong Kong) and Shen Hao as Managing Director and Chief Development Officer for DigiFT (Hong Kong). 

These two executives each have more than twenty years of global experience. They have held senior leadership positions in corporate and commercial banking, investment firms, and digital assets fields.

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Kevin Loo, CEO of DigiFT HK, said, "Following recent announcements from global asset managers and banks to launch tokenized products, the Hong Kong government has made digital assets a top priority, especially in their efforts to provide better guidance and framework for wider Web3 landscape and attract global finance to their region.” 

Also read: Crypto and Real World Assets (RWA): Top 10 RWA Coins

“At DigiFT (HK), we believe this is the right moment to provide global Web3 financial solutions to continue to help Hong Kong and APAC stay at the forefront of global finance. "We look forward to working closely with regulators and industry players to pave the way towards a scalable, secure and sustainable tokenized future," he added.

Last December, DigiFT was approved as a Recognized Market Operator (RMO) and awarded a Capital Markets Services (CMS) license by MAS – making it the first and only stock exchange with a licensed automated market making mechanism.

DigiFT will participate as a thought leadership speaker at key industry events in the region such as Liquidity 2024, Hong Kong Web3 Festival, and the Digital Economy Summit in April this year.

What is DigiFT?

DigiFT is the first regulated stock exchange for blockchain-based real-world assets. They are a Recognized Market Operator with a Capital Markets Services license by the Monetary Authority of Singapore. 

DigiFT allows asset owners to issue blockchain-based security tokens and investors can trade with continuous liquidity via Automated Market Maker (AMM).

Founded in Singapore in 2021, DigiFT is fully committed to meeting regulatory requirements to operate in the Singapore capital markets space, while providing innovative financial solutions that push the boundaries of financial services responsibly.

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DigiFT's founding team consists of executives who have held positions in the world of finance and financial technology (fintech) at Citi, Standard Chartered, Morgan Stanley, Shenzhen Stock Exchange, and have in-depth knowledge of blockchain technology, with successful experience developing stock exchanges and asset products digital in the past.

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Also read:

What is RWA and Why is it Important for DeFi?

What Are Real World Assets (RWA), 5 Crypto Coins & Blockchains That Use the RWA Narrative

RWA Tokenization on a Large Scale Not Feasible Yet?

More About RWA: What Are the Benefits of Asset Tokenization?

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