According to CoinMeta, Hong Kong Financial Services and Treasury Bureau Secretary John Tsang said that the progress of tokenization in Hong Kong is moving from the experimental stage to the implementation phase. Currently, Hong Kong has gathered over 1,400 fintech companies, including 8 virtual banks, 4 virtual insurance companies, and 12 licensed virtual asset trading platforms. The Hong Kong Stock Exchange plans to launch a pilot program for tokenized warehouse receipt financing next year, in collaboration with designated banks, using distributed ledger technology to utilize commodity warehouse receipts as collateral. They are also building a multi-asset tokenization platform that will include commodity warehouse receipts from recognized warehouses.