Derlin Holdings: Plans to tokenize assets worth 500 million USD

ChainCatcher news, Derlin Holdings (01709.HK) announced that following the signing of a strategic cooperation memorandum of understanding with Asseto, both parties are actively negotiating and advancing specific cooperation projects, including the tokenization of several RWA held by the group, and intend to distribute the related tokenized assets to a designated user group of the group in the form of physical distribution ("RWA Tokenization Project" or "the Project").

According to the preliminary plan, the group intends to tokenize assets with a total value of up to HKD 500 million, including but not limited to the following assets as the first batch of tokenized targets: several rights located at "Derlin Building," 92 Wellington Street, Central, Hong Kong; and the asset rights of three funds managed by the group.

The above assets will be mapped on-chain and compliantly tokenized through the blockchain infrastructure provided by Asseto, and part of the assets will be distributed compliantly to the following user groups: eligible shareholders of the company; compliant users of Derlin Securities (Hong Kong) Limited; and certified users of the NeuralFin Technology platform.

The total amount of this distribution is proposed to be no more than HKD 60 million, and participants must complete identity verification and sign a risk disclosure agreement. According to current regulatory requirements, local investors in Hong Kong must meet the "professional investor" qualification under the Securities and Futures Ordinance to participate. The group is discussing specific operational details of this project with Asseto and plans to submit the necessary license application or upgrade application for existing licenses to the Hong Kong Securities and Futures Commission ("SFC") regarding the management of related assets and token issuance arrangements. The implementation of the project will be subject to the final approval or consent of the SFC.