On December 16, 2024, NVTHK Limited (“NVT”), a leading RWA infrastructure provider, supported Cinda International Asset Management Limited (“CIAM”), acting as the arranger and manager, to successfully launch its first transferable tokenised repackaging notes (or Short-Term Asset-Backed Liquidity Note Token (“STBL”)) on the Ethereum blockchain. This marks a significant milestone as the first transferable tokenised repackaging notes arranged by a Hong Kong-based financial institution. “This groundbreaking financial product underscores Hong Kong’s role as a global hub for financial innovation” , said Jailin Liu, Managing Director of CIAM, in Cinda’s press release on December 24, 2024. STBL targets professional investors (as defined in the Securities and Futures Ordinance (cap. 571, Laws of Hong Kong)) and its underlying assets are a portfolio of AAA-rated money market funds (“MMFs”). NVT, as the on-chain operator, delivers seamless blockchain-based solutions for the issuance and operation of STBL. The initial distributors of STBL include GF Securities (Hong Kong) Brokerage Limited and Hash Blockchain Limited (“HashKey Exchange”).

NVT and RD Technologies held a forum discussing HK's opportunities and challenges on regulated RWA and stablecoin. Speakers from GF Securities, Hashkey Exchange, Linklaters, QReg Advisory, Mulana IM made wonderful sharing.

On January 18, 2024, GF Securities Hong Kong successfully issued tokenized financial notes under the Hong Kong regulatory framework. GF Securities Hong Kong is a leading large-scale Chinese securities firm. This financial product is backed by short-term funding notes and is issued through a public blockchain. Investors of this product can receive and manage these tokenized assets in their personal digital wallets, and all transaction history can be queried on the public blockchain.