Hong Kong's SFC to pilot tokenized fund trading on crypto exchanges
Hong Kong’s Securities and Futures Commission (SFC) has published a circular providing guidance on how crypto exchanges, or virtual asset trading platforms (VATPs), should handle secondary trading of tokenized funds by retail investors as part of a pilot.
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Hong Kong's pilot lets licensed platforms trade tokenized SFC-authorised funds — starting with money market funds — settled in Stablecoins Ordinance-licensed stablecoins or tokenized deposits, after tokenized-class AUM grew roughly sevenfold to HK$10.7 billion in a year.
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