Signum Digital, a joint venture between Coinstreet Holdings and Somerley Capital Holdings, has received the first approval-in-principle to operate a platform for trading security tokens (STOs) in Hong Kong.

The STOs are linked to various asset classes, including private equities, real estate, art, and collectibles. The platform will be operated under the name “CS-Pro” after receiving final approval from Hong Kong’s Securities and Futures Commission.

This move comes after Hong Kong proposed new initiatives for its cryptocurrency and digital asset sector last year and the recent publication of draft rules for virtual asset trading platforms set to take effect in June.