Hong Kong Securities Regulatory Commission: 17 tokenized retail products have been launched to manage assets of US$1.3 billion

Zhitong Finance App learned that Wu Jiali, executive director of the Investment Products Division of the Hong Kong Securities Regulatory Commission, said at a forum that under the Ensemble project, the Hong Kong Securities Regulatory Commission and the Hong Kong Monetary Authority are taking the lead in exploring how to use tokenized deposits or tokenized currency to invest in tokenized funds. She mentioned that the Hong Kong Securities Regulatory Commission has formulated a tokenized product policy since 2023. So far, it has launched 17 tokenized retail products, with a total asset management scale of 1.3 billion US dollars, an increase of 78% over the past 12 months.

Wu Jiali pointed out that tokenized securities are essentially traditional securities packaged in tokenization, and the current legal framework and regulatory requirements governing securities still apply. However, the tokenization structure itself poses additional risks and must be regulated accordingly. She also pointed out that tokenization technology can only make transactions faster and less expensive, but ultimately liquidity still depends on market participation, and requires all stakeholders to work together to ensure the effective operation of the market.

Chen Fangnan, representative of the International Monetary Fund (IMF) in the Hong Kong Special Administrative Region, pointed out at another session of the forum that tokenization technology can strengthen the financial system, expand financial channels, and remove many barriers, etc., but at the same time, it is still necessary to overcome issues related to laws, supervision, system connectivity, and asset settlement, and believes that the principle of technological neutrality should be adhered to.