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Clifford Chance advises HSBC on the launch of market-first digital gold token for Hong Kong retail investors

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28 March 2024

Clifford Chance advises HSBC on the launch of market-first digital gold token for Hong Kong retail investors

Global law firm Clifford Chance has advised HSBC on the structuring, documentation, and regulatory approval process for the launch of a market-first digital gold token product available to retail investors in Hong Kong.

The product represents the first tokenised real-world asset issued by a bank for retail investors and leverages distributed ledger technology (DLT). This innovation enables enhancement to liquidity and market accessibility of an asset traditionally perceived as less liquid with higher investment barriers.

Partners Rocky Mui and Terry Yang co-led a team of lawyers from the Hong Kong office including counsel Andre Da Roza, Foreign Legal Counsel Lin Lu, associates Greg Chan and Winni Choi.

Partner Rocky Mui said, "This represents an important milestone in the development of asset tokenisation for Hong Kong, and we expect to see continued growth in this area, particularly for the APAC region. We are proud to be working with HSBC's team of product, technology and legal experts on this innovative product."

This project extends Clifford Chance's established track record of advising on pioneering digital asset transactions. Notable matters include advising on HSBC's appointment as the sole settlement bank in Hong Kong for FPS and Thailand's PromptPay QR payment programme, Singapore's first industry pilot for cross-currency transactions on tokenised deposits, and the launch of the first bitcoin spot ETFs in the US for VanEck.

高伟绅就汇丰银行推出首款面向香港零售投资者的数字黄金代币产品提供法律服务

国际领先律师事务所高伟绅就汇丰银行在香港推出首款面向零售投资者的数字黄金代币产品提供构架设计、文件编制和监管审批流程方面的法律服务。

该款产品是银行面向零售投资者发行的首款现实世界资产的价值代币化产品,也是一款分布式账本技术(Distributed Ledger Technology, DLT)的产品。这一创新提高了传统上被认为流动性较差、投资门槛较高的资产的流动性,改善了市场准入。

高伟绅合伙人梅家豪(Rocky Mui)和杨大志(Terry Yang)共同带领香港办公室律师团队提供本次法律服务,团队成员包括Andre Da Roza (罗键韬)、鹿麟 (Lin Lu)、陈冠强(Greg Chan)和蔡温妮(Winni Choi)。

 

合伙人梅家豪(Rocky Mui)表示:这是香港资产代币化发展的一个重要里程碑,我们预计资产代币化这一领域将保持持续增长,尤其是在亚太地区。我们很荣幸能与汇丰银行的产品、技术和法律专家团队合作,助力推出这一创新产品。

本项目充分发挥了高伟绅在为开创性数字资产交易提供法律咨询服务方面的良好往绩。相关业务经验包括就汇丰银行获委任为“转数快(FPS)”与泰国“PromptPay”二维码付款计划在香港的唯一结算银行以及新加坡首个试点代币化存款跨币种交易。