Guotai Junan International (GTJAI) plans to issue various types of tokenized securities in Hong Kong. The company is a subsidiary of Guotai Haitong Group, China’s largest securities brokerage, which is State-backed.
The company aims to use DLT for issuance, trading and custody as well as to enable greater personalization for wealth management products. Given its ownership, the news is notable, as China has plans to create ten large securities brokers and have two or three global scale investment banks or institutions by 2035.
GTJAI said it submitted business plans to Hong Kong’s Securities and Futures Commission and received an email saying there are no further questions, which is taken as approval.
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