Regulation
bt-crow.com
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Signum Digital plans to offer professional investors a platform for security tokens, known as STOs, that are traded on the blockchain and linked to various asset classes such as private equity, real estate, art and collectibles. After receiving final approval from the Hong Kong Securities and Futures Commission (SFC), Signum will operate the STO platform under the brand name “CS-Pro”. The platform will be the first of its kind in Hong Kong, Signum said.
Hong Kong has been offering new initiatives for the urban crypto and digital asset sector since last year. He then invited firms interested in providing STO services to submit their proposals. Last month, the SFC published draft rules for virtual asset trading platforms due to come into effect in June, including requiring crypto exchanges to apply for licenses that would allow retail investors to trade certain large-cap tokens.
The region currently restricts virtual asset trading to professional investors with more than HK$8 million (about US$1 million) in verified assets. Major crypto exchange Huobi Global also announced last month that it is applying for a license to operate in Hong Kong, possibly moving its headquarters from Singapore to a special administrative region.
Image: Forbes
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