TechFlow, November 13 — Former chairman of the Hong Kong Securities and Futures Commission, Lawrence Liang, emphasized in an interview that asset tokenization is a key opportunity for the future development of Hong Kong's financial market. He explained that asset tokenization integrates the three traditional financial transaction steps—trading, clearing, and settlement—into a blockchain system, enabling "atomic settlement" and significantly enhancing market efficiency.
Liang noted that Nasdaq in the United States has already begun experimenting with tokenized stock trading, achieving T+0 instant settlement. He believes Hong Kong faces three major challenges in advancing asset tokenization—technological infrastructure, regulatory framework, and market acceptance—but highlighted its unique advantage of being closely connected to the mainland market.
"This is no longer a 'choice' but a 'must-do'. The window of opportunity for Hong Kong will not last long," Liang warned, adding that if Hong Kong does not accelerate progress, it could lose its competitive edge within two or three years.
