- HGC has partnered with a leading SFC licence applicant for operating an STO trading platform in Hong Kong
XIAMEN, China, Aug. 18, 2022 /PRNewswire/ — HGC (BVI) Info Tech Ltd. (“HGC“), the issuer of Trucpal Tokens (“Trucpal“), officially announced its Global Partnership Program. Hong Kong Digital Asset Ex Limited (“HKbitEX“) became one of HGC’s first partners. Trucpal has been offered globally on July 25, 2022 through INX Securities, LLC, a registered broker-dealer and a member of FINRA/SIPC in the United States. Each Trucpal represents an entitlement to a portion of the qualifying revenue of HGC.
HGC is a leading digital SaaS service provider serving the Chinese freight market. HGC maintains its strengths and position through continuous business innovation and an open system. With an annual output value of US$1.5 trillion in 2020 and annual transportation volume of 52.1 billion tons in 2021 in the Chinese freight market, HGC believes that China is the world’s most promising digital freight market.
HKbitEX is a leading digital asset exchange headquartered in Hong Kong. HKbitEX is committed to providing a compliant and regulated digital asset spot trading and over-the-counter (OTC) trading platform for global professional investors. HKbitEX is one of the first organizations in Asia-Pacific to apply for a license to operate as a virtual asset service provider from the Securities and Futures Commission in Hong Kong (SFC), which will further enable it to offer compliant, secure and reliable digital asset trading services to global professional and institutional investors. In 2022, HKbitEX was selected as one of the top ten emerging financial technology (Fintech) giants in Hong Kong in the report “Emerging Giants in Asia Pacific” jointly released by KPMG and HSBC.
HGC aims to cooperate with all compliant trading platforms to list Trucpal globally. Based on that, HGC announced the Global Partnership Program. It is expected that Trucpal will become one of the first security tokens that can be traded in multiple securities trading platforms and markets worldwide.
This collaboration between HGC and HKbitEX will bring the parties to work together to coordinate compliance solutions, to seek regulatory approvals and to meet relevant registration requirements in both the United States and Hong Kong. The collaboration will also allow HGC and HKbitEX to jointly develop technical solutions that comply with the digital securities regulations and regional legal requirements and seize market opportunities together.
Wendong Zhang, Founder of HGC commented: “We are pleased to see more and more compliant trading platforms participating in the STO market. HKbitEX will certainly be one of the most active platforms among them, and we are happy to cooperate with HKbitEX to potentially list Trucpal and to provide compliant securities token trading in the Hong Kong market in the future. It will foster collaboration amongst each other, and encourage HGC and HKbitEX to explore the future of digital securities together.”
Dr. Shibin Wang, Director of HKbitEX commented: “Hong Kong has solid financial infrastructure and legal system, as well as a well-developed Fintech innovation environment. We are pleased to see that Hong Kong has established a complete digital asset regulatory framework in the past three years. HKbitEX has been working hard to liaise with the regulators on the licensing matters for the trading of STOs. STOs, as a combination of physical assets and blockchain technology, help improve the efficiency of financial markets. We will keep building a compliant and safe trading platform, and remain open to cooperate with projects worldwide after obtaining the required licences and approvals from the regulatory authorities.”
HGC operates a blockchain based freight service SaaS platform in China. HGC believes that China is the world’s most promising digital freight market. HGC maintains its strengths and position through continuous business innovation and an open system. The HGC/Trucpal Team has been developing and operating in the field of freight and crypto for many years. Since its official launch in February 1, 2021, the Trucpal App has a record of 300 million RMB on gross merchandise value. More than 7,000 cooperatives and 4.5 million Trucpoints have been mined by its users.
HKbitEX is a leading digital asset exchange headquartered in Hong Kong. HKbitEX is committed to providing a compliant and regulated digital asset spot trading and over-the-counter (OTC) trading platform for global professional investors. HKbitEX is one of the first organizations in Asia-Pacific to apply for a licence to operate as a virtual asset service provider from the Securities and Futures Commission in Hong Kong (SFC).
Integrating both financial technology (Fintech) and regulation technology (RegTech), HKbitEX has strong capabilities in tracking and interpreting regulatory policies for digital assets. The team also has significant technology expertise and regularly engages with regulators in order to provide efficient and effective compliance processes for users. The founders and the management team of HKbitEX have extensive experience and advanced technological knowledge in areas such as exchange operations, cyber security, Fintech, asset management and securities brokerage. The HKbitEX team is committed to making HKbitEX the role model in a new era for digital asset trading.
SOURCE HGC (BVI) Info Tech Co. Ltd.