ABT: Consider applying for Hong Kong virtual asset service provider and virtual asset trading platform licenses

ABT Tech Limited, which provides support for the issuance of tokenized bonds for GF Securities (Hong Kong), founder Yang Zaiyong said in a recent interview that he will consider applying for a virtual asset service provider (VASP) and virtual asset trading platform (VATP) license depending on operational needs. The total issuance value of GF tokenized bonds is about US$100 million. ABT provides services in wallets, tokenization, user management, and compliance with CSRC requirements. In the future, Hong Kong will promote asset tokenization, stablecoins will play an important role, but the market cannot accommodate too many stablecoins in the future. If Hong Kong wants to issue stablecoins, the assets behind them can be promoted through the gold and silver trading market to promote gold tokenization as an entry point, or use circulating treasury bills or even Ethereum as underlying assets.