The Cyberport Blockchain & Digital Asset Pilot Subsidy Scheme is a government-backed effort to encourage Web3 experimentation in Hong Kong. The scheme provides funding and a regulatory sandbox for projects that could serve as templates for broader adoption.
Henry Zhang, the founder of DigiFT, said:
“Cyberport is at the heart of Hong Kong’s digital transformation. Through this project, we are combining institutional partners, regulated infrastructure, and blockchain technology to build the next chapter of tokenized fund distribution.”
According to the statement, the three firms’ initiative focuses on replacing manual processes in fund operations with blockchain-based automation.
The system is expected to reduce errors, streamline transfers, and lower costs across the $132 trillion global asset management sector by embedding smart contracts into each stage, from issuance to redemption.
UBS will contribute its proprietary UBS Tokenize platform, while Chainlink brings in its Digital Transfer Agent, a tool that validates and records transactions on-chain. DigiFT, licensed in Singapore and Hong Kong, will provide the regulated distribution channel.
These components are designed to allow investors to place orders and withdrawals through smart contracts that automatically trigger the required actions on UBS’s tokenized funds.
According to him, the framework demonstrates what future capital markets could look like once blockchain technology is fully embedded into their operations.
