Delin Holdings to Tokenize Assets Worth $500 Million

According to ChainCatcher, Delyn Holdings (01709.HK) has issued an announcement stating that following the signing of a strategic cooperation memorandum of understanding with Asseto, both parties are actively negotiating and advancing specific collaborative projects. These include the tokenization of certain RWA (Real World Assets) held by the group, with plans to distribute the tokenized assets in kind to designated user groups of the group (the “RWA Tokenization Project” or “the Project”).

According to the preliminary plan, the group intends to tokenize assets with a total value of up to HKD 500 million, including but not limited to the following as the first batch of tokenized targets: certain interests in “Delyn Building” at 92 Wellington Street, Central, Hong Kong; and asset interests from three funds managed by the group.

The above assets will be mapped on-chain and compliantly tokenized using blockchain infrastructure provided by Asseto, with a portion planned to be distributed in a compliant manner to the following user groups: qualified shareholders of the company; compliant users of Delyn Securities (Hong Kong) Limited; and verified users of the NeuralFin Technology platform.

The total amount to be distributed in this round is set at no more than HKD 60 million, and participants are required to complete identity verification and sign a risk disclosure agreement. In accordance with current regulatory requirements, local investors in Hong Kong must meet the “professional investor” criteria under the Securities and Futures Ordinance to participate. The group is discussing specific operational details of the project with Asseto and plans to submit the necessary license applications or upgrade existing licenses to the Hong Kong Securities and Futures Commission (“SFC”) for asset management and token issuance arrangements. The implementation of the project is subject to final approval or consent from the SFC.