According to Mars Finance News, on May 11, Guotai Junan International announced that, based on the Circular issued by the Hong Kong Securities and Futures Commission (SFC) regarding intermediaries engaging in tokenized securities-related activities, relevant business plans for tokenized securities distribution and digital bond issuance have been submitted and confirmed by the regulatory authority with no further issues. It pointed out that Guotai Junan International submitted a wealth management-related business plan to the Hong Kong SFC on January 21, 2025, intending to distribute tokenized securities to clients or provide advice on tokenized securities based on its existing securities trading operations. The types of tokenized securities covered by the plan include: structured products linked to various underlying assets (such as structured notes and over-the-counter derivatives), SFC recognized funds and non-recognized funds, as well as bonds. Tokenized securities refer to traditional financial instruments (such as stocks, bonds, and funds) that achieve full lifecycle management in digital form through distributed ledger technology (DLT, such as blockchain). Essentially, they are traditional securities packaged as tokenized assets, realizing a transformation in form through technological means.