Jointly Exploring Real Estate Tokenization for a New Future of Hong Kong
HONG KONG, June 3, 2019 /PRNewswire/ -- Stan Group, the leading conglomerate devoted to driving innovative business blueprints across technology, innovation and entrepreneurship, announced that GEAR Financial is collaborating with Liquefy from The STILE Initiative, Asia's first investment-backed residential incubation programme founded by Stan Group. GEAR Financial Group, Stan Group's strategic partner providing financial investment and asset management service, and Liquefy, an end-to-end security token issuance platform with blockchain technology, signed a MoU to jointly explore the business opportunities of real estate tokenization. The project, titled "STAN by Hong Kong", aims to build the digital real estate ecosystem 2.0 with the power of the emerging blockchain technology. Stan Group and GEAR Financial Group are to explore the collaboration with Liquefy in bringing real estate tokenization in Hong Kong. The mutual goal is to develop a real estate exchange that allows Hong Kong individuals gain access to a diverse range of tokenized properties owned by Stan Group and external parties, ushering Hong Kong in a new era of digitized real estate. "The STILE Initiative is designed to support entrepreneurial development and innovation in Asia Pacific, serving as the catalyst for the flourishing of commercial ecosystem development." Mr. Stan Tang, Chairman of Stan Group and Founder of The STILE Initiative, said, "In taking this bold first step towards the future of the real estate sector in Hong Kong, we envision far better access and greater liquidity in the real estate market due to the fractional ownership that will be attained with tokenization and our real estate exchange under development." Liquefy is a Hong Kong based, security token issuance platform based on blockchain technology, that works with issuers to tokenize a variety of asset classes, with real estate being a key focus, to realize the value of tokenization.
"We see our partnership with Stan Group as an incredible opportunity to drive Hong Kong as a whole towards being a smart city with security token ownership and paperless ownership systems." Mr. Adrian Lai, CEO of Liquefy, said, "Real estate is seen as a key sector where tokenization can drive investment. We are confident that we can initiate a paradigm shift in the Hong Kong real estate sector through STAN by Hong Kong."ABOUT THE STILE INITIATIVE
Founded by Stan Group and co-organised by Jumpstart Media, The STILE Initiative is a brand-new residential incubation programme for international startups. Inaugurated this year, the programme has attracted applications of over 500 startups from 11 cities in Asia Pacific. An intensive four-month programme has been kicked off for the selected teams, providing accommodation, office space, and stipend in Hong Kong. Each team will also be offered funding package valued at US$100,000, top-quality mentorship, real-world projects and the opportunities to interact with other entrepreneurs at different events. The programme also includes a follow-on funding scheme for high-performing incubatees who meet growth expectations after completing the programme. The STILE Initiative has been designed to drive innovation and foster engagement between corporations and entrepreneurs. Stimulating the collaboration between Hong Kong and international entrepreneurial communities, the programme serves as the catalyst for the flourishing of commercial ecosystem development. For more details about The STILE Initiative, visit www.stileapac.comView full article