Hong Kong Launches Project to Automate Management of Tokenized Funds

As part of the government’s Cyberport Blockchain & Digital Asset Pilot Subsidy Scheme, a joint project by DigiFT, Chainlink, and UBS was approved in Hong Kong to build a regulated blockchain infrastructure for automating operations with tokenized funds.

DigiFT, a licensed exchange for tokenized real-world assets (RWA), announced the launch of a joint initiative with blockchain oracle provider Chainlink and UBS Tokenize, the tokenization division of UBS. The project aims to automate processes of subscription, redemption, and lifecycle management of tokenized funds.

The initiative will allow investors to submit requests for the purchase or redemption of UBS tokenized products via DigiFT smart contracts, integrated with Chainlink’s Digital Transfer Agent. All transactions will be recorded on the blockchain, automatically triggering issuance or redemption of tokens in line with standards set by the Capital Markets Technology Association (CMTA).

According to the press release, the global asset management industry is valued at $132 trillion, and tokenization is seen as a way to radically transform this market.

DigiFT CEO Henry Zhang noted that the project brings together institutional partners, regulated infrastructure, and blockchain technologies, paving the way for an open economy where financial products are interoperable across countries and platforms.

Fernando Vazquez, President of Capital Markets at Chainlink Labs, emphasized that the integration of DigiFT and UBS with Chainlink’s Digital Transfer Agent marks a new stage in institutional fund distribution. According to him, the project ensures transparency, security, and regulatory compliance within Hong Kong’s jurisdiction, laying the foundation for the next generation of capital markets.

Kevin Loo, Hong Kong CEO of DigiFT, highlighted that participation in the Cyberport Blockchain & Digital Asset Pilot Subsidy Scheme reaffirms the company’s long-term commitment to developing tokenized finance infrastructure in the city. Working together with UBS and Chainlink, he said, will not only meet institutional standards but also strengthen Hong Kong’s status as a global hub for digital asset regulation.

Hong Kong authorities have been actively developing digital asset regulations for several years, which positioned the jurisdiction among the leaders in independent rankings of Web3 technology development in 2024.

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