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’sfirst 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.”
