Former Chairman of the Hong Kong Securities and Futures Commission, Leung Ting-bong: Stocks are essentially a type of token.

According to Odaily Planet Daily, former Hong Kong Securities and Futures Commission Chairman Leung Ting-bong stated in an interview that Nasdaq in the United States has begun experimenting with tokenized stock trading and using stablecoins (such as USDC) for settlement. Tokens are not a new concept; stocks are essentially a type of token. If stocks are transformed into digital tokens on the blockchain, all operations can be completed within a single system, achieving instant settlement. The combination of asset tokenization and central bank digital currencies can reshape the entire market's operation. For Hong Kong to establish such a new capital market based on asset tokenization, it needs to overcome challenges in three areas: technological infrastructure, regulatory framework, and market acceptance. (21st Century Business Herald)