Ng Ka Lai of the Hong Kong Securities and Futures Commission: Tokenized Gold ETF May Become Next Secondary Trading Pilot
On November 3, TechFlow reported that, according to a speech draft released by the Hong Kong Securities and Futures Commission, Wu Jiali, Executive Director of the Investment Products Department, stated at the Hong Kong FinTech Week on November 2 that the Commission will closely monitor the inaugural pilot for secondary trading of tokenized money market funds, and consider gradually expanding the model, with a tokenized gold ETF potentially becoming the next pilot.She noted that the Commission is introducing an "Innovation Channel" to appropriately consider providing regulatory flexibility and guidance to innovative products that deliver significant benefits, supporting controlled pilots and timely product rollouts. She also pointed out that integrating tokenized money market funds with digital currency helps reduce settlement and reconciliation frictions.
On November 3, TechFlow reported that, according to a speech draft released by the Hong Kong Securities and Futures Commission, Wu Jiali, Executive Director of the Investment Products Department, stated at the Hong Kong FinTech Week on November 2 that the Commission will closely monitor the inaugural pilot for secondary trading of tokenized money market funds, and consider gradually expanding the model, with a tokenized gold ETF potentially becoming the next pilot.
She noted that the Commission is introducing an "Innovation Channel" to appropriately consider providing regulatory flexibility and guidance to innovative products that deliver significant benefits, supporting controlled pilots and timely product rollouts. She also pointed out that integrating tokenized money market funds with digital currency helps reduce settlement and reconciliation frictions.
