Media Resources

(4 November 2025) The Hong Kong and China Gas Company Limited (Towngas) has completed its first real-world asset (RWA) tokenisation project. Towngas is using a HK$100 million credit facility as the underlying asset for its subsidiary Towngas Telecom (TGT), which operates data centres and fixed network services. 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 tokenised information. Through the RWA tokenisation of loan information, key financial and operational data will be uploaded onto the blockchain in real time for verification and reference by authorised institutions.

Towngas and Ant Digital Technologies signed a partnership agreement for this project during Hong Kong FinTech Week 2025. This marks a further deepening of cooperation since Towngas and Ant Digital Technologies signed a memorandum of understanding on 19 May this year, and represents Towngas’s first implemented project in the digital financing sector.

The HK$100 million credit facility for TGT will be utilised to develop artificial intelligence (AI) data centres, AI Internet of Things solutions, and cross-border infrastructure projects.

Mr Edmund Yeung Lui-ming, Executive Director and Chief Financial Officer of Towngas, said: “This RWA tokenisation 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.”

Jovay is Ant Digital Technologies’ self-developed Layer2 blockchain platform, featuring high performance, high security and open interconnection. Ms Bian Zhuoqun, President of Blockchain Business at Ant Digital Technologies, stated: “We are honoured to provide technical support for this innovative financing project and will continue to offer compliant, secure and efficient technology solutions to financial institutions and real economy enterprises worldwide.”

Mr Leo Lai, General Manager, Head of Corporate Banking Division at Chong Hing Bank, stated: “We sincerely thank Towngas for its trust and support of Chong Hing Bank. We will continue to explore diversified applications and cooperation ecosystems in the digital assets business, promoting financial innovation and working together to build a more dynamic and sustainable future.”

Towngas stated that digital asset innovation (including RWA tokenisation) will, with the improvement of regional blockchain infrastructure and regulation, progressively move towards scale and normalisation, providing new financing and circulation channels for infrastructure assets, and strengthening the efficiency of the interface between Hong Kong’s digital finance and the real economy.

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Press photos:

Photo 1:

Witnessed by Mr Edmund Yeung Lui-ming (2nd from left, back row), Executive Director and Chief Financial Officer of Towngas; Ms Diana Chung Wai-yee (1st from left, back row), Head of Group Finance & Strategy (Hong Kong Business) of Towngas; Mr Zong Jianxin (2nd from right, back row), Executive Director, Deputy Chairman and Chief Executive of Chong Hing Bank; and Mr Tom Chen (1st from right, back row), Executive Vice President, Head of Corporate Product & Business Development Division of Chong Hing Bank, Mr Walter Ngan Hing-wah (left, front row), General Manager – Telecommunications Business of Towngas Telecom, and Mr Leo Lai (right, front row), General Manager, Head of Corporate Banking Division of Chong Hing Bank, sign the Loan Tokenisation Agreement.

 
Photo 2:

Witnessed by Mr Edmund Yeung Lui-ming (left, back row), Executive Director and Chief Financial Officer of Towngas, and Ms Bian Zhuoqun (right, back row), President of Blockchain Business of Ant Digital Technologies, Mr Walter Ngan Hing-wah (left, front row), General Manager – Telecommunications Business of Towngas Telecom, and Mr Chen Xiangbin (right, front row), General Manager of Strategic Industry of Business Development Department of Ant Digital Technologies, sign the Technical Service Agreement.

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