Finloop Finance Technology Holding Limited and Marketnode have signed a strategic agreement to build cross-border tokenised finance channels between Hong Kong and Singapore, aiming to widen access to digital financial products and deepen regional collaboration in Asia’s capital markets.
Under the partnership, the two firms will combine Finloop’s fintech and real-world asset capabilities with Marketnode’s digital market infrastructure. The collaboration targets an expansion of tokenised fixed income, fund, structured, and commodity-backed products across both markets, while creating shared standards for compliant issuance, trading, and data sharing.
Key focus areas of the partnership
The agreement concentrates on three main areas:
- Product access: broaden cross-border access to tokenised fixed income, fund, structured, and commodity-linked products between Hong Kong and Singapore.
- Interconnected infrastructure: develop an ecosystem that links compliant tokenised asset platforms in both hubs to support issuance, distribution, and settlement.
- Market intelligence and regulation: share data and insights to drive product innovation and support regulatory alignment around tokenised finance.
Both firms expect the tie-up to accelerate digital wealth management services and extend regional access to tokenised assets across Asia.
Profile: Finloop
Finloop, based in Hong Kong, operates an AI-driven global Web5 wealth technology platform serving institutional clients across multiple asset classes.
Its core system, the FinRWA Platform (FRP), provides issuance and distribution technology for tokenised products, enabling both public and private offerings to be created, sold, and traded digitally within a regulated wealth management framework and across borders.
Finloop has recently moved to monetise these capabilities. It listed its Finloop USD Instant Digital Liquidity token on Singapore’s regulated exchange 1exchange, offering professional traders in Asia a compliant, on-chain liquidity instrument backed by AAA-rated money market funds.
In April, chief executive Cai launched the “RWA CONNECT 2026” initiative, aimed at reducing technology costs for issuing real-world assets and standardising processes to broaden market access.
Profile: Marketnode
Marketnode, backed by Euroclear, HSBC, SGX Group, and Temasek, provides digital infrastructure covering data services, transaction management, and tokenisation.
Using modular blockchain technology, Marketnode offers financial institutions a ready-to-deploy architecture intended to increase efficiency in the origination, distribution, and lifecycle management of digital products.
Strategic timing amid regulatory push
The partnership comes as both Hong Kong and Singapore move from pilot projects to live, regulated tokenisation infrastructure.
- Market growth: the on-chain value of tokenised assets rose about 30% in the first quarter of 2026, reaching roughly USD 27.5 billion.
- Regional market outlook: the Asia-Pacific tokenisation market, valued at USD 578.27 million in 2024, is projected to grow at a compound annual rate of 21.6% through 2031. Southeast Asia already accounted for 81.9% of real-world asset trade volume on some platforms in the first quarter of 2026, underscoring the region’s role as an early adopter.
Hong Kong: Project Ensemble and digital bonds
Hong Kong’s monetary authority is pushing tokenisation into core market infrastructure:
- Project Ensemble / EnsembleTX: the initiative has progressed into a pilot phase, EnsembleTX, running through 2026 to support real-value transactions using tokenised deposits for money market funds.
- Digital bond issuance: the Hong Kong government issued a HKD 10 billion digital bond in late 2025, the largest such issuance globally to date, signalling a policy-level commitment to tokenised instruments.
These steps are building a live environment in which tokenised government securities and money market funds are becoming more common, expanding the universe of institutional-grade digital assets.
Singapore: Project Guardian and cross-border pilots
The Monetary Authority of Singapore is scaling its multi-year tokenisation programme, Project Guardian:
- Industry collaboration: the project now involves more than 40 industry participants working on standards for tokenised fixed income, funds, and foreign exchange.
- Live cross-border use case: HSBC has extended its tokenised deposit service from Hong Kong to Singapore, enabling 24/7 real-time settlement for corporate clients, including Ant International.
These developments are laying the groundwork for interoperable products that can operate seamlessly between the two hubs.
Implications for market structure
The Finloop–Marketnode agreement is positioned to benefit from, and contribute to, this evolving infrastructure:
- Cross-border connectivity: the collaboration aims to create direct channels for tokenised asset issuance and distribution between Hong Kong and Singapore, potentially improving liquidity and market depth across both venues.
- Standardised protocols: alignment with government-led efforts such as Project Guardian and Project Ensemble is expected to support common standards for issuance, settlement, and interoperability, which can improve price discovery and reduce fragmentation.
- Data and transparency: strengthened data-sharing frameworks are intended to support compliant innovation and more transparent market analysis.
Evolving tools and due diligence
As tokenisation frameworks mature, so do evaluation tools:
- Ratings and analytics: Hong Kong’s launch of its first rating platform for tokenised products points to a shift toward data-driven assessment of digital instruments.
- New risk profiles: the growth of tokenised government securities, money market funds, and other regulated instruments is creating digital assets with risk and return characteristics distinct from unregulated digital tokens.
Market participants will need to adapt due diligence processes to integrate these new data sources, standards, and product types, particularly as platforms like Finloop and Marketnode work to enable cross-market access between Asia’s leading financial centres.
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