HONG KONG, May 7, 2023 /PRNewswire/ — HKVAX, a Hong Kong-based virtual asset trading platform, has formed a strategic partnership with TerraChain, a security token issuance and management platform, to provide services for customers in APAC seeking to take advantage of security tokens (STOs).
Hong Kong is one of the virtual asset friendliest and supportive cities in Asia and will soon become the main financial hub for tokenized securities (STOs).
HKVAX, short for Hong Kong Virtual Assets Exchange Limited, is a virtual asset exchange that provides professional virtual assets trading and customized services for institutions looking to invest in the virtual assets and financial technology sectors. As well as allowing institutions to safeguard their assets under the custodian arm.
TerraChain, is creating a truly efficient market for any type of security by providing the infrastructure necessary to create transparency into underlying assets & companies. TerraChain has developed a system that pairs on-chain cashflow data with digital securities in order to make information equally available to all market participants at all times while automating the functionality of complex financial products such as asset-backed-securities. TerraChain provides a full-service issuance process and integrates directly with the cashflows of underlying assets through customizable data oracles. The company plans on issuing its first security backed by a luxury condominium/hotel in South East Asia this summer.
Through the strategic partnership with HKVAX, TerraChain will support and promote the business expansion of HKVAX, to collectively establish a trading market that complies with Hong Kong securities regulations. At the same time, HKVAX will cooperate with TerraChain to support integrations in order to provide on-platform secondary trading capabilities.
“In 2023 and beyond, we will see the new normal to have a complete breakdown and real adoption in blockchain technologies will be implemented into all levels of operations, the most immediate we are seeing is the possibilities in security tokens and some banks are also in the middle of securitizing certain plain vanilla products. Hence, we are delighted to explore and work with the talented team in TerraChain to unleash the new era and create an ecosystem that customers can enjoy a one stop solution.” – Ivan Chan, Co-founder of HKVAX.
“Digital securities are the future of all things finance. Not only do they provide a cheaper, more efficient method of raising capital & making investments, but they can actually automate adherence to everything from regulations to investor agreements. HKVAX is the perfect partner to our vision because together, we can create a marketplace to trade innumerable variations of financial products while maintaining the transparency necessary to induce trading. We are extremely excited to work with a team of likeminded individuals who want to lay the tracks for a revolution in global finance.” -Dominic Niolu, CEO of TerraChain.
HKVAX is a regulated virtual asset exchange in Hong Kong that is building a trusted and secured infrastructure layer for institutional trading, operating a regulated exchange platform and a fully licensed custodian solution.
TerraChain is a global technology & financial services company headquartered in Seattle, USA. The company provides its customers with an end-to-end digital security issuance service & subsequent investor management platform. TerraChain has a global network of broker dealers & advisory partners to provide capital access on platform. By utilizing TerraChain, issuers can raise capital from a global audience of investors and automate all subsequent reporting needs while investors receive the transparency necessary to value their investments.