Insight & Analysis

Press release: PwC Hong Kong signs agreement with digital asset creation platform TOKO

Published: Jul 2023

5th July 2023 PwC Hong Kong has announced today that it has entered into a joint business relationship with TOKO Limited in order to bring tokenisation technology to its clients. TOKO is a digital asset creation platform which gives asset owners the power to tokenise real world assets.

“Real world asset tokenisation opens up exciting new opportunities for securities markets, for issuers and for investors,” says Duncan Fitzgerald, partner, PwC Hong Kong. “These opportunities include innovative programmable securities, cash flow advantages through the atomic settlement of trades, and enabling investment in otherwise illiquid assets through fractionalisation. Our alliance with TOKO provides us with a technology solution so that we can work with our clients to realise some of these tech enabled benefits.”

“The TOKO platform has a number of features which we believe our clients will see value in,” says Peter Brewin, partner, PwC Hong Kong. “These include the ability to customise token attributes and data sets to fit a wide variety of different underlying asset classes (real estate, funds, IP rights, digital art and trade finance) and the ability to mint tokens on a variety of public blockchains (e.g. Ethereum, Polygon, Hedera, Algorand, etc.). At the same time, the platform can immutably bind backing legal documents and data files to the same token on a separate permissioned blockchain that maintains privacy and confidentiality by only making this information available to those that have been granted access.”

The collaboration between PwC Hong Kong and TOKO Limited comes at a time when tokenisation is growing in importance and will form a key part of the Hong Kong Government’s strategy of developing Hong Kong as a virtual assets hub. It transforms the process of finding and matching investors with investment opportunities, and the subsequent secondary market opportunities once an investment has been made. The advantages of tokenisation, such as the enforcement of immutable transactions, transparency and technological innovation align with PwC’s strategy of building trust and delivering sustained outcomes.

Scott Thiel, CEO and founder of TOKO Limited says “At TOKO we believe in improving the world through technology and doing it within a tight regulatory framework, we are therefore excited about entering into this collaboration with PwC Hong Kong to bring our tokenisation technology to their suite of clients.”

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