Forms HK, Chainlink and partners launch Hong Kong tokenized securities framework

Forms HK, Chainlink, Apex Group, CSpro and Blockchain Valley@Cyberport have launched the Tokenized Securities Framework in Hong Kong, positioning it as shared market infrastructure to standardize the full lifecycle of tokenized securities from structuring and issuance to distribution and settlement. The framework uses the ERC-3643 permissioned token standard to embed compliance into the asset itself, allowing investor eligibility and transfer restrictions to follow the token onchain in a market where securities rules limit who can hold and trade certain instruments. Its execution and distribution layer, TS Connect, is designed to support onchain movement of tokenized bonds while remaining aligned with Securities and Futures Ordinance requirements. Forms HK is handling infrastructure orchestration and banking-system integration, Apex Group is providing tokenization enablement and fund administration through Apex Digital, CSpro serves as the regulated origination and investor-access layer with an SFC Type 1 licence for dealing in securities, Blockchain Valley@Cyberport connects startups and financial institutions, and Chainlink supplies Cross-Chain Interoperability Protocol and the Automated Compliance Engine for cross-chain transfers, identity verification and transaction rule enforcement. The launch builds on earlier testing under the HKMA's e-HKD+ programme, where Chainlink's stack supported an exchange between ANZ Bank's A$DC stablecoin and the e-HKD+ pilot CBDC that funded a purchase of a Fidelity International tokenized fund. It also lands amid broader regulatory and market momentum, including the SFC's November 2023 tokenization approach and an April 20 framework for 24-hour trading of tokenized SFC-authorised products on licensed virtual asset trading platforms using regulated stablecoins and tokenized deposits for settlement. As of March 2026, Hong Kong had 13 tokenized products publicly offered, about $10.7 billion in tokenized share-class assets under management and close to $2 billion in tokenized government bonds issued. No first live issuances or target asset classes were identified, and rollout is set to proceed through sandbox testing and pilot transactions rather than an immediate production launch.