{"id":46768,"date":"2023-03-17T06:44:00","date_gmt":"2023-03-17T10:44:00","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=46768"},"modified":"2023-03-17T06:44:03","modified_gmt":"2023-03-17T10:44:03","slug":"hong-kong-sfc-grants-signum-digital-license-to-offer-security-tokens","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/hong-kong-sfc-grants-signum-digital-license-to-offer-security-tokens\/","title":{"rendered":"Hong Kong SFC grants Signum Digital license to offer security tokens"},"content":{"rendered":"\n

Hong Kong\u2019s Security and Futures Commission (SFC) has granted Signum Digital a license to offer security tokens<\/a> after its application for virtual asset trading licenses.<\/p>\n\n\n\n

\"Hong
Hong Kong SFC grants Signum Digital license to offer security tokens<\/figcaption><\/figure>\n\n\n\n

Signum Digital, a joint venture between Coinstreet and Somerley, has announced that its security token offering (STO) and subscription platform has acquired preliminary permission from the Hong Kong Securities and Futures Commission (SFC).<\/p>\n\n\n\n

Security tokens are a new class of digital assets based on blockchain technology that reflects ownership of actual assets such as private stocks, real estate, art, and collectibles. By being tied to real-world assets, the tokens may reduce risks for prospective investors, facilitate research, and give a basis for the market value of the investment opportunity.<\/p>\n\n\n\n

Signum Digital asserts that, upon receiving final approval from the SFC of Hong Kong, it will handle the STO platform under the brand name “CS-Pro.” According to Signum, this platform will be a groundbreaking development in Hong Kong.<\/p>\n\n\n\n

The Hong Kong SFC issued provisional regulations for trading platforms for virtual assets <\/a>and solicited public feedback last month. The SFC demanded that digital currency exchanges submit license applications allowing ordinary investors to trade specified high-capitalization tokens as part of the future licensing scheme slated to commence in June.<\/p>\n\n\n\n

Since last year, when it solicited ideas from firms interested in providing STO services, Hong Kong has been proposing new measures for the city's cryptocurrency and digital asset market.<\/p>\n\n\n\n

Huobi Global also stated last month that it is looking for a license to conduct business in Hong Kong, perhaps relocating its headquarters from Singapore to the special administrative region.<\/p>\n\n\n\n

Hong Kong has recently shown considerable interest in becoming a crypto hub, investing extensively to support the promise of technologies such as Web3.<\/p>\n\n\n\n

Mid-December 2022 saw the debut of Hong Kong's first two exchange-traded funds for cryptocurrency futures, which raised over $70 million prior to their debut. The event occurred shortly after the chairman of Hong Kong's SFC\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> indicated in October that Hong Kong is willing to differentiate its approach to crypto regulation from China's 2021 crypto ban.<\/p>\n","protected":false},"excerpt":{"rendered":"

Hong Kong\u2019s Security and Futures Commission (SFC) has granted Signum Digital a license to offer security tokens after its application for virtual asset trading licenses. Signum Digital, a joint venture between Coinstreet and Somerley, has announced that its security token offering (STO) and subscription platform has acquired preliminary permission from the Hong Kong Securities and […]<\/p>\n","protected":false},"author":12,"featured_media":46783,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[1134,13250,13805],"class_list":["post-46768","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-hong-kong","tag-security-tokens","tag-signum-digital"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/03\/image-45.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/46768","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=46768"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/46768\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/46783"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=46768"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=46768"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=46768"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}