Hong Kong plans to submit a draft bill this year establishing licensing for virtual asset trading, custody, advisory and management services.

According to Wallisi, the global market is poised for a massive shift toward tokenization, with predictions of growth from $20 billion to $200 trillion. This transformation anticipates the tokenization of traditional assets such as stocks, bonds, and real estate, which collectively represent trillions in value. The statement underscores the significant trading opportunities as blockchain technology becomes integral to asset management and ownership.