HONG KONG (Reuters) -Chinese property developer Seazen Group is setting up an institute in Hong Kong to push forward real-world asset (RWA) tokenization, it said on Friday, a process that converts assets into digital tokens that can be traded on a blockchain.

A move to raise funds with tokens would be the first by a major Chinese developer. Property companies have been scrambling for liquidity since the sector slipped into a debt crisis in 2021, leading to many defaults.

Seazen, which is deemed to be financially sound, said in a stock exchange filing earlier on Friday it has created the Seazen Digital Assets Institute to explore the feasibility of tokenizing its intellectual property resources and asset income.

The Shanghai-based firm could not be reached by phone for comment.

Bloomber

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