Hong Kong property developer Stan Group launches a token-based profit distribution system for its employees

According to Ledger Insights, Hong Kong property developer Stan Group announced a profit-sharing system for its employees. The Stan Group currently manages assets of more than HK$50 billion (US$6.5 billion). Note: Prior to the interest rate, Stan Group will meet with the Hong Kong Securities and Futures Commission (SFC) early next year to seek approval for the sale of token-based real estate using blockchain technology. If the application is approved, this will be the first time SFC has allowed the token to be legally traded in Hong Kong with real estate as the underlying asset.