Tiger Research outlines model for tokenizing Korean assets in Hong Kong
- —Structure: Korean asset, BVI SPV issues notes, Hong Kong intermediary sells to overseas investors
- —Investors hold an SPV product, not direct ownership of the Korean asset
- —Hong Kong's SFC applies existing securities rules to tokenized securities
- —Risks include mismatched payment timelines, FX costs and tax procedures
Why it matters: The model shows that legal cash-flow recovery, not blockchain issuance, is the crux of RWA tokenization.
Source: TokenPost