Greenland Financial Technology plans to apply for a virtual assets license in Hong Kong to allow it to trade crypto, carbon credits and NFTs, according to the South China Morning Post. The company is a subsidiary of China’s Greenland Group, a real estate developer that is 46% owned by the Shanghai Government.
At first glance, one might expect the objective is to tokenize real estate. However, that was not mentioned and Greenland Group is quite diversified. The Chinese company plans to set up a Hong Kong subsidiary and get approvals for its activities from the Securities and Futures Commission (SFC).
Greenland Financial has already been dabbling in digital assets. In March last year, it announced a collaboration with Singapore’s Metaverse Green Exchange (MVGX) for cross border carbon credits. MVGX tokenizes carbon credits as digital assets.
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