Hong Kong“One of the pioneering firms in web3 solutions, digital assets and tokenization, recognized for its innovation and solid reputation across Spain and Latin America.”
Jorge CorredorLawyer, Rincón Cuéllar & Asociados
Asset tokenization in Hong Kong
We build the platform to tokenize bonds, shares and revenue rights in Hong Kong: investor onboarding, ERC-3643 tokens and an ownership record reconciled with the legal one, coordinated with the law firm that structures the issuance under the Securities and Futures Ordinance and SFC circulars.
Tokenize your asset
They trust Metlabs to tokenize their assets
Why Hong Kong
Why tokenize assets in Hong Kong?
Since its 2023 circular, the SFC has treated a tokenized security as a traditional security with a tokenization wrapper, and the Government itself has issued four rounds of digital green bonds, the latest worth around 20 billion Hong Kong dollars. For an issuer, the decision is which right to tokenize and which investors it can be offered to.
HK$20B
in the Government's fourth digital green bond issuance, cleared through the CMU
HKMA · Sep 202613
virtual asset trading platforms licensed by the SFC, where authorized tokenized products can trade
SFC · Oct 12, 20262023
the year the SFC set out that a tokenized security follows the rules of the traditional security
SFC · circular 23EC52What gets tokenized
Debt, equity and revenue: what gets tokenized in Hong Kong
Almost every tokenized issuance represents one of these three rights against the issuer. In Hong Kong, the right determines whether the token is a debenture, a share or an interest in a collective investment scheme, and with it which authorization the offer needs.
| Right | Debt | Equity | Revenue |
|---|---|---|---|
| What is issued | Bonds and notes (debentures) | Shares | Revenue rights |
| The investor receives | The investor lends to the issuer and receives interest and, at maturity, the principal. | The investor joins the share capital: dividends, voting rights and a share of any sale or liquidation. | The investor receives a share of the income from an asset: rents, energy sold, sales or royalties. |
| The token enforces |
|
|
|
| Issuer | Company limited (Cap. 622) | Public or private company | Company limited (Cap. 622) |
| Register | Register of debenture holders | Register of members | As set in the documents |
| Law | Cap. 622, Cap. 32 and SFO | Cap. 622 and SFO | SFO (Cap. 571) |
| How it is issued | A tokenized bond follows the offer rules of a traditional bond. The company keeps a register of debenture holders, which the documents reconcile with the tokens; the Government's digital bonds are cleared and settled through the HKMA's CMU. | A private company must restrict share transfers, limit its members to 50 and prohibit any invitation to the public to subscribe. A share token open to many investors calls for a public company with a prospectus, or an offer to professional investors only. | If the property is managed as a whole and the income is distributed among investors, the arrangement falls within the broad definition of a collective investment scheme, and offering it to the public requires SFC authorization unless an exemption applies, such as the professional investor one. |
Regulation
Regulation guide for Hong KongWhich regulation applies to tokenization in Hong Kong?
Existing securities law. Since its November 2023 circular, the SFC has considered a tokenized security to be fundamentally a traditional security with a tokenization wrapper, so the Securities and Futures Ordinance and the prospectus regime apply. An offer that is neither authorized nor compliant with that regime can only be made to professional investors.
For SFC-authorized products, the April 2026 circulars require proper records of investors' ownership interests, clear disclosure of whether on-chain or off-chain settlement is final and additional controls when a public permissionless network is used. They also allow those tokenized products to trade on licensed virtual asset platforms, with measures for fair pricing and liquidity.
Stablecoins follow a different route: the HKMA has licensed their issuers since August 2025, and a platform license does not allow issuing them. We coordinate the structure with specialist law firms, and SFC-licensed entities provide the regulated services.
Hong Kong
FavourableScore90
- Authorities
- Securities and Futures Commission (SFC) and Hong Kong Monetary Authority (HKMA)
- Latest regulatory change
- May 2026
Key authorisations
- VATP licences under AMLO and SFO according to activity and assets
- HKMA licence for stablecoin issuance within the regime
- Relevant securities dealing, advice or management licences
- Offering and product authorisation requirements where applicable
Our legal partners
Methodology
How we tokenize an asset in Hong Kong, step by step
The four phases of our methodology, with the parties involved in Hong Kong. The law firm and our engineering team work in parallel from the asset review to investor acquisition.
We review the asset's title, encumbrances and cash flows, and decide with the issuer whether the token will be debt, shares or a revenue right, which in Hong Kong can be a collective investment scheme. That sets the vehicle, a private or a public company, the amount and the rules.
The law firm classifies the token and chooses the offer route: a prospectus, SFC authorization if it is a collective investment scheme, or an offer to professional investors only. The documents set how ownership is recorded and when a transfer becomes final.
We configure the white label platform with your brand: investor onboarding with KYC, signature, payment and ERC-3643 tokens that only accept investors in the offer's category. Reconciliation with the register of members or debenture holders is custom development.
With the issuer and the SFC-licensed intermediary distributing the issuance, we prepare the offer page and measure the journey to a paid subscription. After the issuance, the platform handles distributions, transfers between verified investors and reporting.
Milestones
Tokenization milestones in Hong Kong
The dates in our regulation guide that laid the ground for licensed platforms, tokenized money and trading in tokenized products. Each milestone links to its source.
See the full timelineAMLO platform regime
Mandatory licensing begins for platforms within the regime.
SFC · VATP regime from 1 June 2023Stablecoins Ordinance commences
The HKMA-supervised issuance regime takes effect.
HKMA · 2025 report, Stablecoins Ordinance commencementConditions for tokenized products
The SFC updates tokenization and secondary trading requirements for authorised products.
SFC · circular20 April2026
Reviews in Hong Kong
What do our clients think of Metlabs?
“We structured the tokenization of real estate projects with them, and I value the team's ability to understand our corporate needs and genuinely solve them.”
Joan MejíaManager, GLOBYNE
“They advised us on the feasibility of tokenizing real estate assets in Uruguay with direct, cordial treatment. A professional team, responsive and always available.”
Álvaro Silva SantamaríaCEO, Sp Inmuebles
“Great professionals at structuring tokenized projects, with technical command and attention to detail that inspire full confidence at every stage of the work.”
Francisco BetancourtVerified Google review
“As a blockchain lawyer, I value their experience and professionalism in consulting and executing tokenization projects. Technology partners you can fully trust.”
Vanessa RivasBlockchain lawyer, El Salvador
“Great professionals, very attentive to their clients and always mindful of every detail. Working with their team has been a genuine pleasure from start to finish.”
CriptorentVerified Google review
“A very professional yet approachable company that empathizes with your doubts and needs. Highly recommended for entrepreneurs with a tokenization project.”
Javier EspasaTokenization entrepreneur
“Exceptional in every sense. From legal support I value their rigor and transparency: working with Metlabs means professionalism, innovation and security.”
Pedro A. Agúndez MéndezGoogle Local Guide
“Excellent service across blockchain development, asset tokenization and consulting. A very professional team that I recommend wholeheartedly, without reservation.”
José Luis DíazVerified Google review
“I have worked with them on several projects and they are very professional. A guarantee that everything turns out perfectly. Without a doubt, 100% recommended.”
Ignacio Fernández JiménezVerified Google review
“One of the pioneering firms in web3 solutions, digital assets and tokenization, recognized for its innovation and solid reputation across Spain and Latin America.”
Jorge CorredorLawyer, Rincón Cuéllar & Asociados
“Great professionals at structuring tokenized projects, with technical command and attention to detail that inspire full confidence at every stage of the work.”
Francisco BetancourtVerified Google review
“A very professional yet approachable company that empathizes with your doubts and needs. Highly recommended for entrepreneurs with a tokenization project.”
Javier EspasaTokenization entrepreneur
“I have worked with them on several projects and they are very professional. A guarantee that everything turns out perfectly. Without a doubt, 100% recommended.”
Ignacio Fernández JiménezVerified Google review
“We structured the tokenization of real estate projects with them, and I value the team's ability to understand our corporate needs and genuinely solve them.”
Joan MejíaManager, GLOBYNE
“As a blockchain lawyer, I value their experience and professionalism in consulting and executing tokenization projects. Technology partners you can fully trust.”
Vanessa RivasBlockchain lawyer, El Salvador
“Exceptional in every sense. From legal support I value their rigor and transparency: working with Metlabs means professionalism, innovation and security.”
Pedro A. Agúndez MéndezGoogle Local Guide
“They advised us on the feasibility of tokenizing real estate assets in Uruguay with direct, cordial treatment. A professional team, responsive and always available.”
Álvaro Silva SantamaríaCEO, Sp Inmuebles
“Great professionals, very attentive to their clients and always mindful of every detail. Working with their team has been a genuine pleasure from start to finish.”
CriptorentVerified Google review
“Excellent service across blockchain development, asset tokenization and consulting. A very professional team that I recommend wholeheartedly, without reservation.”
José Luis DíazVerified Google review
Platform
What does our white label tokenization platform include in Hong Kong?
The investor portal, ERC-3643 tokens and issuer console, under your brand. Out of the box it handles onboarding, signing, payment and distributions; anything else your issuance needs, such as a local payment method or a connection to your bank or custodian, we build on the same platform.
Request a demo
- Your brand and domainYour visual identity and legal notices across the investor portal.
- Investor onboardingSign-up, KYC with HKID card or passport, KYB, AMLO checks and a custodial wallet.
- End-to-end investmentE-signature and payment in HKD by FPS or CHATS, or with stablecoin (USDT/USDC).
- ERC-3643 tokensEvery subscription follows the SFO rules for an offer to professional investors.
- Issuer consoleProjects, investors, HKD reconciliation, distributions and reporting.
- Compliance and audit trailKYC and AML file, professional investor checks and an exportable audit log.
Institutional custody, integrated
We integrate custody and key management providers through their APIs, including Fireblocks, BitGo, Coinbase Prime, Anchorage Digital, Copper and Ledger Enterprise. Depending on the provider and model, keys are managed with MPC or multisig so that none depends on a single device. If the token is a security, custody on behalf of clients is provided by an authorized entity.
FAQ
Frequently asked questions about tokenization in Hong Kong
What we are asked before a project starts.
Talk to our teamIs asset tokenization legal in Hong Kong?
Yes. The SFC considers a tokenized security to be a traditional security with a tokenization wrapper, so it is issued and offered under the usual rules. What requires a license or authorization is the activity: distributing it, offering a collective investment scheme to the public or operating a trading platform.
Can a Hong Kong private company issue tokenized shares?
It can issue them to a small group: its articles must restrict share transfers, limit members to 50 and prohibit any invitation to the public to subscribe for shares or debentures. To offer the token to a broad investor base, the vehicle is a public company with a prospectus.
Can retail investors buy tokenized securities in Hong Kong?
It depends on the offer. In 2023 the SFC dropped the blanket professional-investor-only restriction, but an offer without authorization or a prospectus can only be made to them, such as an individual with a portfolio of at least 8 million Hong Kong dollars. SFC-authorized tokenized products can be offered to the public.
Can tokens be issued on a public network?
Yes, with controls. The April 2026 circular asks providers of authorized products not to use a public permissionless network without additional and proper controls, and gives using a permissioned token, such as ERC-3643, as an example. The provider remains responsible for management and operational soundness even if it outsources the technology.
Asset tokenization
Assets we tokenize in Hong Kong.
Asset tokenization
Articles on tokenization
Real Asset Tokenization: How RWA Tokenization Works
How to structure an RWA project: holder rights, issuance, recordkeeping, payments and recovery. What blockchain adds and what depends on the legal arrangement.
What are the differences between security tokens and utility tokens?
How to distinguish financial rights from service access, what legal classification examines and why a token’s name does not determine its regulation.
OpenZeppelin and ERC-3643: how a security token is built
What OpenZeppelin libraries and ERC-3643 controls provide, and what a securities issuance also requires: rights, permissions, operations and review.
Tokenize your asset in Hong Kong
Tell us which right you want to issue and we will propose the technical structure, timeline and phased budget.
Where we are
We're your tokenization company in:
Metlabs Offices
Av. García Sabell, 1, Edificio Proa 15009 A Coruña, Spain
We tokenize assets in
SpainUnited StatesUAEUnited KingdomMexicoSingaporeAustraliaSwitzerlandColombiaArgentinaChilePeruPortugalGermanyBrazilEcuadorFranceIndiaPanamaAndorraAustriaBahrainBelgiumBoliviaCanadaCosta RicaCubaCyprusCzechiaDenmarkDominican RepublicEl SalvadorEstoniaFinlandGreeceGuatemalaHondurasHungaryIrelandIsraelItalyJapanKuwaitLiechtensteinLithuaniaLuxembourgMaltaMonacoMoroccoNetherlandsNew ZealandNicaraguaNigeriaNorwayOmanParaguayPolandPuerto RicoQatarRomaniaSan MarinoSaudi ArabiaSeychellesSouth AfricaSouth KoreaSwedenTurkeyUruguayVenezuela
