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ARBSolana Company says Hong Kong tokenisation push could bring 30-person team
The Solana Company, which holds 2.2 million SOL, is expanding its tokenisation services to Hong Kong and may build a local team of 30 to advise banks if demand holds.
Why it matters: The move ties a listed SOL treasury company to Hong Kong's regulated tokenisation and stablecoin market, where approved products already hold $1.3bn.
Key points
- Hong Kong regulators have approved 17 tokenised retail products with $1.3bn in assets under management, up over a third from last year.
- The firm was named a strategic enterprise by Hong Kong's Office for Attracting Strategic Enterprises in its seventh batch.
The Solana Company is expanding its tokenisation services to Hong Kong, betting on the Solana tokenisation push across Asia-Pacific.
Chairman and CEO Joseph Chee said many major Hong Kong financial institutions are only beginning to consider tokenisation projects. The company plans to assess demand over six months and, if it holds without large local teams emerging, grow to 30 staff to advise local banks.
Hong Kong has made tokenisation a priority for fintech, and regulators have approved 17 tokenised retail products with $1.3bn in assets under management, up more than a third on last year. Chee said the US leads the field and is moving faster, with venues approved for stock tokenisation.
The Hong Kong Monetary Authority has approved HSBC and Anchorpoint to issue Hong Kong dollar stablecoins, and Anchorpoint plans native issuance and redemption on Solana.
What to watch: The Solana Company expects to assess demand for its tokenisation services in Hong Kong in six months.
Live updates on NewsFeeds:AltcoinsStablecoinsDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)
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