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Top Hong Kong Government Officials and Legislative Council Members Celebrate Hong Kong’s first STO Project issued under DOT Standard

Marvion, a leading Metaverse Blockchain company and a fully owned subsidiary of Bonanza Goldfields Corp., is proud to announce the celebration of Hong Kong’s first Security Token Offering (STO) project issued under the DOT Standard. In a landmark event, the celebratory luncheon was attended by top Hong Kong government officials and Legislative Council members, which include Dr. Tony Wong, JP, Chief Information Officer of the Hong Kong Special Administrative Region, representatives from the Legislative Council including Stanley Li Sai Wing, MH JP, Dr Hon Tan Yueheng JP, Hon Edmund Wong Chun Sek, and Hon Robert Lee Wai Wang, as well as various representatives from the Government of Hong Kong SAR. This ground-breaking project marks a significant milestone in Hong Kong’s blockchain and digital asset landscape.

The STO project, powered by Marvion’s cutting-edge blockchain technology and adopts the innovative DOT Standard, demonstrates Hong Kong’s commitment to embracing innovation and promoting a favourable environment for digital asset investments. By leveraging the DOT Standard, the project ensures utmost transparency, security, and regulatory compliance, instilling investor confidence and trust in the burgeoning digital asset market. 

“Marvion is delighted to play a pivotal role in Hong Kong’s first STO project issued under the DOT Standard,” stated Raymond Chua, CEO of Marvion. “Our mission is to revolutionize the digital asset landscape and redefine digital ownership through our Metaverse Blockchain solutions. The fact that CITD’s bond offering created a non-synthetic STO illustrates how proper application of blockchain technology can help overcome risks within the traditional securities space,” added Chua.

The successful launch of Hong Kong’s first STO project is a collaborative effort between industry leaders, regulators, and Marvion’s expert team. The DOT Standard, developed by Marvion, has been pivotal in streamlining the issuance process and ensuring seamless compliance with regulatory requirements. With Hong Kong’s first STO project under the DOT Standard, Marvion cements its position as a leading Metaverse Blockchain company driving digital ownership and engagement.

“We are thrilled to have worked on Hong Kong’s first fully blockchain-based bond issuance using the DOT standard, creating a non-synthetic security. Under this approach, we are able to, for the first time, remove complex trust structures inherent in traditional securities and make a truly “non-complex” product,” commented Joshua Chu, Chief Risk Officer of Marvion. 

About BONZ

Bonanza Goldfields Corporation is a Nevada holding company that through its subsidiaries are engaged in the media distribution business. Specifically, we provide authentication, valuation and certification (“AVC”) service, sale and purchase, hire purchase, financing, custody, security and exhibition (“CSE”) services to buyers of movie and music media through traditional channels as well as through leveraging blockchain technology through the creation of digital ownership tokens (“DOTs”).

The group is building an ecosystem and a metaverse for the media and entertainment industry that implements and adopts blockchain and NFT technologies, through mergers and acquisitions.

About Marvion™️ 

Marvion is a global company headquartered in Singapore. It is one of the first public-listed Web 3.0 group with market-leading technologies and ecosystem that aims to be the driver behind the world’s transition into Web 3.0. We offer services, access and content and provide the necessary tools for creators to create unique content in the Web 3.0.

About Marvion’s DOT 

Marvion’s DOTs are integrated, best in class, digital ownership token (DOT) that contains a smart contract that can execute transactions and also contains the specific legal terms of the intellectual property ownership, license and/or rights. Each DOT contains the following:

  • A copy of the SPA for the purchase of the master license.
  • Evidence or warranty of ownership of the relevant intellectual property.
  • Ownership of the sub-license detailing the rights of the DOT holder.
  • Image/video/music or other file depending on what the asset is.

Photo by Andres Garcia on Unsplash

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