Market Chatter: Towngas Completes First RWA Tokenization Project With HK$100 Million Credit Facility

MT Newswires Live

Nov 05

Hong Kong and China Gas (HKG:0003) has completed its first real-world asset tokenization (RWA) initiative, backed by a HK$100 million credit facility arranged for its unit Towngas Telecom, The Standard reported Tuesday.

Through the initiative, financial and operational details tied to the facility will be recorded and verified on the blockchain in real time by authorized institutions, the report said.

Proceeds from the facility will reportedly support AI data centre development, AIoT solutions, and cross-border infrastructure projects.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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