Former Chairman of the Hong Kong Securities and Futures Commission: Stocks are essentially a type of Token.

According to ChainCatcher news, in an exclusive interview with the 21st Century Business Herald, former chairman of the Hong Kong Securities and Futures Commission, Liang Dingbang, stated that the US Nasdaq has begun experimenting with tokenized stock trading and using stablecoins (such as USDC) for settlement. Tokens are not a new concept; stocks are essentially a type of token. If stocks are transformed into digital tokens on the blockchain, all operations can be completed within a single system, achieving instant settlement. The combination of asset tokenization and central bank digital currency can reshape the entire market's operational methods. For Hong Kong to establish a new capital market based on asset tokenization, it needs to overcome challenges in three areas: technological infrastructure, regulatory framework, and market acceptance.