DigiFT, the first regulated exchange for on-chain real-world assets (RWA) licensed by the Monetary Authority of Singapore (MAS), has announced the strategic expansion of its business in Hong Kong. The expansion is marked by new Hong Kong-based leadership appointments and the firm’s membership in the Cyberport Incubation Programme.
Cyberport is Hong Kong’s digital technology flagship and incubator for entrepreneurship with over 2,000 members including over 900 onsite and close to 1,100 offsite start-ups and technology companies. Being selected to join the incubation program at Cyberport highlights DigiFT’s strong capabilities and underscores the alignment of its compliant business development path focused on developing real-world assets in Hong Kong.
In February this year, the Hong Kong Monetary Authority (HKMA) set out the supervisory standards regarding the sale and distribution of tokenized products, reflecting Hong Kong’s continuous endeavors to regulate the digital asset and tokenization ecosystem, positioning itself as a premier financial innovation hub.
Henry Zhang, Founder and CEO of DigiFT said, “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.”
Dovetailing its strategic decision to expand its business into Hong Kong, DigiFT recently announced the appointment of Mr. Kevin Loo as Chief Executive Officer for DigiFT (Hong Kong) and Ms. Shen Hao as Managing Director and Chief Development Officer for DigiFT (Hong Kong). Both executives bring over twenty years of global experience respectively, having held senior leadership roles across corporate and commercial banking, investment firms and digital asset areas.
Kevin Loo, CEO of DigiFT HK said, “Keeping up with recent announcements by global industry asset managers and banks to launch tokenized 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. At DigiFT (HK), we believe this is an opportune moment to provide global Web3 financial solutions to continue helping Hong Kong and APAC stay at the forefront of global finance. We look forward to working closely with the regulators and industry players to pave the way for a tokenised future that is scalable, secure, and sustainable.”
Last December, DigiFT was approved as a Recognised Market Operator (RMO) and awarded the Capital Markets Services (CMS) license by MAS.
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