DRAGON RISE GP (06829.HK): Enters blockchain agency agreement to issue asset-backed tokenized notes; initial tranche capped at HKD 30 million
NewTimeSpace News: On 27 August 2026, Dragon Rise Group Holdings Limited (stock code: 06829) voluntarily announced that its wholly-owned subsidiary, DRNE Next Mobility Investment Limited, has entered into a blockchain agency agreement with an integrated blockchain service provider for the issuance of private tokenized limited recourse notes secured by physical assets (the "physical asset project") on the Ethereum and Solana blockchains.
According to the announcement, under the agreement, DRNE Next Mobility has appointed the blockchain service provider as the token registrar for the tokenized notes, responsible for maintaining the register, minting and issuing the tokenized notes, recording transfers of ownership and performing all other administrative and operational matters relating to the notes. In the physical asset project, DRNE Next Mobility acts as issuer with the Company providing a guarantee for the issuance, with a reserved quota equivalent to HKD 100 million and an initial tranche cap of HKD 30 million; the tokenized notes are secured by a fleet of battery-swap electric taxis and the actual income sources generated by battery-swap infrastructure, and will be converted into standardized, fractionalized and traceable digital assets on the blockchain.
Under current regulatory requirements, investors based in Hong Kong must qualify as "professional investors", with a minimum subscription of HKD 400,000; the project offers a two-year lock-up period, with a target return comprising a fixed interest component of 4% per annum and a performance-linked interest component of up to 6% per annum, and the Company provides a full guarantee for the principal and fixed interest of the first tranche issuance.
The Board believes that tokenizing income-generating assets such as the battery-swap electric taxi fleet can address structural challenges inherent in traditional infrastructure financing, including limited liquidity, information asymmetry and high entry barriers, and can enable the Group to recycle capital more efficiently and accelerate the deployment of more electric commercial vehicles and battery-swap infrastructure for scalable asset-light expansion. The Group will continue to monitor regulatory developments regarding tokenized securities and physical asset issuance in Hong Kong, and will make further announcements on the project in due course under the Listing Rules.
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