Hong Kong Lawmaker Proposes Blockchain Platform For Continuous Trading

According to Foresight News, Hong Kong Special Administrative Region legislator Ng Kit Chuang has proposed the establishment of a unified blockchain trading and settlement platform for licensed virtual asset exchanges in Hong Kong. This initiative aims to facilitate the tokenization of physical assets and enable uninterrupted 24/7 trading. Ng highlighted the challenges faced by small and medium-sized enterprises (SMEs) in mainland China, such as difficulties in financing and inefficiencies in cross-border transactions, which hinder the growth of the digital economy. To address these issues, he suggested the creation of a digital asset foreign exchange fund in Hong Kong. This fund would provide collateralized financing using digital assets for SMEs in the Greater Bay Area, thereby enhancing financial circulation within the region.