1 year ago
Tokenization, wherever real-world assets are converted into blockchain-based tokens, has the imaginable to heighten efficiency, liquidity and transparency successful enslaved markets, the Hong Kong Monetary Authority (HKMA) said successful a Thursday report.
The remark follows a palmy $100 cardinal tokenized greenish enslaved issuance successful February by the cardinal slope successful collaboration with the section government.
"The issuance demonstrated the anticipation of deploying distributed ledger exertion (DLT) to a existent superior markets transaction nether the existing Hong Kong ineligible framework. It besides showed the imaginable successful DLT to heighten efficiency, liquidity and transparency successful enslaved markets," the study said.
The enslaved has created a blueprint for "potential akin issuances successful Hong Kong," the study said, adding that the slope intends to research further applications, code issues of fragmentation crossed platforms and systems, and heighten Hong Kong’s ineligible and regulatory model to accommodate much tokenization successful the enslaved market.
"The HKMA successful coordination with the Government volition enactment with the manufacture to behaviour further tokenized issuance(s) to beforehand improvement connected this front," a property connection published alongside the study said.
The HKMA has been exploring greenish enslaved tokenization since astatine slightest 2021.
Edited by Sheldon Reback.
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