The Hong Kong Stock Exchange has announced it plans to launch Diamond, a platform for trading tokenized assets, local media has reported.
The media has reported the trading service will use smart contracts, blockchain and cloud computing technologies, which will allow it to work around the clock.
Initially, ESG products will be traded on the exchange, however, cryptocurrencies will not be supported at the start of the project.
The exchange representative Xu Yiming clarified that ESG investments, such as carbon credits, are attracting close attention. According to her estimates, by 2030 the total market of tokenized assets will reach about $60-100 trillion.