Seazen Group Plans to Raise Funds Through Tokenized Real World Assets
Seazen Group, a major Chinese real estate firm, plans to raise funds through tokenized real world assets (RWAs) as the crypto landscape in China evolves. The company will establish the Seazen Digital Assets Institute to leverage Hong Kong's favorable stance on cryptocurrency.
Key Developments
- Vice Chairman Wang Yifen will lead the Institute, focusing on issuing tokenized financial instruments like private and convertible bonds.
- Some RWAs will be issued as non-fungible tokens (NFTs) related to Wuyue Plaza shopping centers and other debt tokenization initiatives.
- Seazen aims to bolster its digital holdings amidst ongoing struggles in the Chinese housing market following a 2021 crash.
- Seazen Group has avoided financial default during this challenging period.
Regulatory Landscape
- The Chinese government is considering lifting long-standing restrictions on cryptocurrency usage.
- Hong Kong permits many digital asset products and services, while mainland China maintains stricter regulations.
- Recent reports suggest potential acceptance of yuan-backed stablecoins, but an open trading environment for cryptocurrencies remains uncertain.