Taiji Capital Group launches Hong Kong's first real estate fund STO and issues tokens

ChainCatcher news, according to the Hong Kong Economic Journal, Taiji Capital Group today launched Hong Kong's first real estate fund security token offering (STO), with tokens issued by its subsidiary Pioneer Asset Management's closed-end fund PRINCE, aimed at professional investors, targeting to raise approximately HKD 100 million. If regulatory approval is obtained, the group plans to list the tokens on its virtual asset trading platform HKbitEX in the future.

The entry fee for this STO project is only HKD 1,000, and once the tokens are listed on the virtual asset trading platform, they can be traded 24 hours a day in the secondary market. Investors' ownership is also clearly recorded on the Ethereum or other blockchains, with returns for investors including rental income and future property appreciation.

Zhang Zhongyu, Vice President of Capital Markets and Wealth Management at Taiji Capital Group, stated that after investors sign the subscription agreement, they will open an account with a wallet, and corresponding tokens will be issued upon successful subscription. In the event of a loss, such as tokens being stolen, the fund company will "guarantee" compensation to investors as required by the Securities and Futures Commission.