Towngas (0003) said it has completed its first real-world asset (RWA) tokenization project, with a HK$100 million credit facility as the underlying asset.
The gas company is using the facility for its subsidiary Towngas Telecom, which operates data centres and fixed network services, it said in a statement on Tuesday.
Chong Hing Bank is providing the credit facility, while Ant Digital Technologies’ Jovay Layer2 provides blockchain support to ensure the security and reliable circulation of tokenized information, it said.
Through the RWA tokenization of loan information, key financial and operational data will be uploaded onto the blockchain in real time for verification and reference by authorized institutions, Towngas noted.
Towngas and Ant Digital Technologies signed a partnership agreement for this project during Hong Kong FinTech Week 2025, after signing a memorandum of understanding in May.
It is also Towngas’s first implemented project in the digital financing sector.
The HK$100 million credit facility for TGT will be utilized to develop artificial intelligence AI data centres, AI Internet of Things solutions, and cross-border infrastructure projects, Towngas said.
The project “lays the foundation for the group’s future goal of enhancing capital allocation efficiency and provides an innovative financing channel for the company’s business expansion,” said Edmund Yeung Lui-ming, executive director and chief financial officer.
