hong kong stock exchange

Former HKEX Executive: Will HkbitEX Issue Its First STO Project Next Year?

On a forum, Lin Shi, the Chief Development Officer of HKbitEX, said that she hoped that the company will issue its first security token offering (STO) project in 2021.

She believes that tokens will become a new asset type. “In the past, equity and product are difficult to trade like private equity, wine, art and etc. Now they can be transformed into assets with more liquidity. With blockchain technology, virtual assets can be settled instantly, which will be extremely high transparency, and it will also make AGM and EGM information more credible. ”

She further added, “Information on the blockchain is immediately available. For example, if investors want to view the company’s ESG information and confirm that the company’s supply chain does not use child labor, they can quickly get results.” She concluded that she believes that tokens will disrupt the market.

Lin Shi has strong backgrounds in the traditional stock exchange

Before joining HkbitEX, Lin Shi served for the Hong Kong Stock Exchange (HKEX) as the head of the initial public offering (IPO) Department. At HkbitEX, Lin Shi is responsible for the research and development of STO and other digital assets trading products and policies.

HkbitEX is an HK-based digital asset platform that provides exchange, custody, and over-the-counter (OTC) services. It is “one of the first organizations in Asia-Pacific to apply for a ‘virtual asset trading platform license’ from Hong Kong’s Securities and Futures Commission (SFC)”.

HKEX officer disagree with her views

HKEX officer Lukas Petrikas agreed that blockchain has the potential to be applied to the market and challenge the centralized market. The Hong Kong Stock Exchange also regards this technology as a competitor. But he doubts the value of blockchain as well.

He said blockchain has three myths. He doesn’t believe blockchain can bring more liquidity as even in the HKEX list company, only 400 of over 2000 have good liquidity. He also disagrees that blockchain will make information more reliable and bring more efficiency.

BC Technology Group Halts Trading Amid Notifiable Transaction

The trade of BC Technology Group Limited’s shares on The Stock Exchange of Hong Kong Limited will be halted beginning at 9:00 a.m. on Monday, November 13, 2023, according to an announcement made by the company. This decision was taken in advance of a scheduled announcement about a large deal, which is regarded as business inside knowledge.

BC Technology Group Limited, with the ticker symbol 863, is an important player in the field of technology. The company was established in the Cayman Islands. Mr. Lo Ken Bon, Mr. Ko Chun Shun, Johnson, Mr. Madden Hugh Douglas, Mr. Chapman David James, and Mr. Tiu Ka Chun, Gary are the executive directors of the firm. Mr. Chau Shing Yim, Mr. David, Mr. Chia Kee Loong, Mr. Lawrence, and Mr. Tai Benedict are the independent non-executive directors.

BC Technology Group Ltd has been looking at the possibility of selling its cryptocurrency platform, OSL, which is one of the two exchanges that are licensed under the new digital asset laws that were implemented in Hong Kong in June. The prospective sale of OSL, which is estimated to be worth roughly 128 million United States dollars, is a reflection of the company’s strategic changes in response to the shifting environment of digital assets. OSL provides a variety of services, such as prime brokerage, exchange, and custody services for cryptocurrency markets, as well as infrastructure for the trading of virtual assets for use by financial institutions. In a market that is experiencing significant change, BC Technology has shown its flexibility and strategic vision by making the choice to perhaps sell sections of OSL.

The news of the trading stop and the possible sale of OSL has substantial repercussions for both the market position and the strategic path that BC Technology Group will take moving forward. The capacity of the organization to successfully traverse the challenging and continuously changing environment of the technology and cryptocurrency markets will be a critical factor in deciding its future development and stability.