Major Hong Kong Property Firm to Seek Regulatory Approval for Tokenized Real Estate

World News: . []

Major Hong Kong Property Firm to Seek Regulatory Approval for Tokenized Real EstateFamily-owned property firm Stan Group — which represents the assets of “shop king” real estate scion Tang Shing-bor — is set to meet with Hong Kong’s securities watchdog in January 2020 to seek approval for the sale of tokenized real estate assets. Stan Group is reported to have a real estate portfolio estimated at over HK$50 billion ($6.38 billion). Against the backdrop of reportedly lacklustre sentiment in the local property market amid escalating trade tensions between the United States and China, the firm is seeking a locally unprecedented approval from Hong Kong’s Securities and Futures Commission for the regulated trading of blockchain tokens that would have real estate as their underlying asset.


Read More: https://news.yahoo.com/major-hong-kong-property-firm-112400003.html

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