The sandbox is meant to "build the grand architecture for Hong Kong's tokenization market and connect all essential pieces in order for tokenized transactions to achieve scale and settle at warp speed," Julia Leung, CEO of the Securities and Futures Commission, emphasized during the launch.
The tokenization of the eBL, a critical document underpinning global trade and serving as a means of legally transferring the title of goods, will for the first time pave way to the securitization of global physical shipping flows," said GSBN.
HSBC completed three proof-of-concept use cases with the sandbox, showcasing the potential for digital bonds and interbank tokenized deposits enhancing efficiency in financial transactions.
The project aims to 'future-proof' the financial system, with major institutions like HSBC testing innovative uses of tokenization to strengthen the market's infrastructure.
Collection
[
|
...
]