DigiFT, an exchange for on-chain real-world assets (RWA) licensed by the Monetary Authority of Singapore (MAS), is extending its operations to Hong Kong.
This extension is marked by DigiFT’s inclusion in the Cyberport Incubation Programme, a hub in Hong Kong that supports over 2,000 digital technology businesses. This aligns with DigiFT’s focus on developing RWAs within a regulatory framework.
To support this expansion, DigiFT has added Kevin Loo as Chief Executive Officer and Shen Hao as Managing Director and Chief Development Officer for its Hong Kong division. Their appointments aim to guide DigiFT’s efforts in the region.
This expansion aligns with recent actions by the Hong Kong Monetary Authority (HKMA) to establish supervisory standards for tokenised products, indicating Hong Kong’s push to regulate its digital asset ecosystem.
Following its achievement as a Recognised Market Operator (RMO) and receiving the Capital Markets Services (CMS) license from MAS, DigiFT’s move to Hong Kong signifies a strategic step in its development.
Additionally, DigiFT plans to contribute to regional discourse by participating in industry events such as Liquidity 2024, the Hong Kong Web3 Festival, and the Digital Economy Summit, integrating into the local digital asset community.
“Being selected to be a member of the Cyberport Incubation Programme is a testament to our unique business proposition of constant innovation. The programme also resembles Hong Kong’s unique vibrancy as one of the leading fintech hubs of the world. Our expansion into the market is a natural next step in our growth plans as we look to facilitate broader access to tokenised real-world assets,”
said Henry Zhang, Founder and CEO of DigiFT.
“Keeping up with recent announcements by global industry asset managers and banks to launch tokenised products, the Hong Kong government has made digital assets a priority item on the agenda, most notably in its push to provide greater guidance and frameworks for the wider Web3 landscape and attract global finance to its shores.”
said Kevin Loo, CEO of DigiFT (HK).
Featured image credit: Edited from Freepik
