Former HKEX Executive: Will HkbitEX Issue Its First STO Project Next Year?

On a forum, Lin Shi, the Chief Development Officer of HKbitEX, said that she hoped that the company will issue its first security token offering (STO) project in 2021.

She believes that tokens will become a new asset type. "In the past, equity and product are difficult to trade like private equity, wine, art and etc. Now they can be transformed into assets with more liquidity. With blockchain technology, virtual assets can be settled instantly, which will be extremely high transparency, and it will also make AGM and EGM information more credible. "

She further added, "Information on the blockchain is immediately available. For example, if investors want to view the company's ESG information and confirm that the company's supply chain does not use child labor, they can quickly get results." She concluded that she believes that tokens will disrupt the market.

Lin Shi has strong backgrounds in the traditional stock exchange

Before joining HkbitEX, Lin Shi served for the Hong Kong Stock Exchange (HKEX) as the head of the initial public offering (IPO) Department. At HkbitEX, Lin Shi is responsible for the research and development of STO and other digital assets trading products and policies.

HkbitEX is an HK-based digital asset platform that provides exchange, custody, and over-the-counter (OTC) services. It is "one of the first organizations in Asia-Pacific to apply for a ‘virtual asset trading platform license’ from Hong Kong’s Securities and Futures Commission (SFC)".

HKEX officer disagree with her views

HKEX officer Lukas Petrikas agreed that blockchain has the potential to be applied to the market and challenge the centralized market. The Hong Kong Stock Exchange also regards this technology as a competitor. But he doubts the value of blockchain as well.

He said blockchain has three myths. He doesn't believe blockchain can bring more liquidity as even in the HKEX list company, only 400 of over 2000 have good liquidity. He also disagrees that blockchain will make information more reliable and bring more efficiency.