HKbitEX Collaborates with Shanghai Technology Exchange for Asset Tokenization Solutions

cryptonews.com:

The Hong Kong-based digital asset exchange, HKbitEX, partners with Shanghai Technology Exchange to develop asset tokenization (RWA) solutions for tech companies, supported by China’s Ministry of Science and Technology and Shanghai municipal government.

On December 28, in a significant development marking the 20th anniversary of the Shanghai-Hong Kong cooperation mechanism, the Shanghai Technology Exchange and Hong Kong Digital Asset Exchange (HKbitEX) signed a memorandum for strategic cooperation. This event signifies a crucial step in the collaborative efforts between Shanghai and Hong Kong within the digital economy sector, aimed at jointly propelling the digital transformation and high-quality development of the Chinese economy.

The memorandum outlines a comprehensive collaboration between the two entities to provide financial solutions for innovative and entrepreneurial companies, leveraging asset tokenization. The primary goal is to address the financing challenges faced by these companies, including mismatched financing demands, valuation difficulties, and imperfect investment exit mechanisms.

The alliance between the Shanghai Technology Exchange and HKbitEX seeks to establish an open, transparent, and efficient platform, offering comprehensive financial solutions for tokenized tech companies. This collaborative initiative is designed to transcend regional boundaries, contributing to the coordinated development of the Guangdong-Hong Kong-Macao Greater Bay Area and the Yangtze River Delta, thereby fostering high-quality development in the Chinese economy.

Over the past two decades, Shanghai and Hong Kong have actively pursued innovation, deepening exchanges and cooperation. As critical engines for Chinese economic