FORMS HK, Chainlink launch tokenized securities framework in Hong Kong
In brief
- FORMS HK, Chainlink, Apex Group, CSpro, and Blockchain Valley@Cyberport launched the Tokenized Securities Framework on August 5
- Framework standardizes issuance, distribution, and settlement of tokenized securities under Hong Kong's regulatory regime
- Chainlink's Cross-Chain Interoperability Protocol and Automated Compliance Engine handle asset movement and on-chain regulatory checks
- ERC-3643 token standard embeds compliance directly into tokens rather than as a separate layer
Infrastructure roles and design
FORMS HK leads infrastructure orchestration, coordinating how the various components interact. Chainlink contributes its Cross-Chain Interoperability Protocol, which allows tokenized assets to move across different blockchain networks, plus its Automated Compliance Engine, which handles on-chain regulatory checks. CSpro manages asset origination and distribution, while Apex Group takes on asset servicing with roughly $3.5 trillion in assets under administration globally.
Blockchain Valley@Cyberport, launched in 2025, provides the broader ecosystem and collaborative environment that ties the initiative together. The execution and distribution layer for investors is called TS Connect, sitting between the compliance infrastructure and the end investor.
Compliance-first token standard
The framework adopts the ERC-3643 token standard, a compliance-embedded design that differs from traditional securities infrastructure.
This standard bakes compliance directly into the token itself, rather than treating it as a separate layer bolted on afterward.
Embedding regulatory logic into the token itself reduces friction between issuance and settlement. Every transfer, redemption, and ownership change is subject to on-chain checks before execution.
Regulatory backdrop
Hong Kong's Securities and Futures Commission issued circulars in 2023 covering retail investor access to tokenized products. In April 2026, a separate framework specifically addressed secondary trading of tokenized investment products, opening a path for post-issuance market activity.
The new framework operates within this regulatory envelope. The four-party collaboration builds compliant infrastructure for issuing and settling tokenized assets under Hong Kong's existing regulatory regime.
One caveat: the framework launched without any reported live issuances or transaction volumes. The infrastructure is in place, but adoption by issuers and investors remains to be demonstrated.
