Hong Kong’s Liquefy bags $2.6m, inks deal to spur Dubai’s tokenization market

Liquefy, a blockchain-agnostic issuance platform based in Hong Kong, raised in July US$2.6 million in a pre-series A round led by global fintech company Ideanomics and community-driven blockchain project NEO Global Development.

Photo credit: The Private Office of Sheikh Saeed Bin Ahmed Al Maktoum

Other notable investors in the round included investment firms Kenetic and East Chain, according to a statement. They joined Hong Kong-based family office Soul Capital, which invested in Liquefy’s seed round.

Founded in 2018, Liquefy provides end-to-end tokenization technology services. It mainly focuses on real estate, with assets in Hong Kong, the US, the UK, and the Middle East in the pipeline for tokenization.

Liquefy CEO Adrian Lai said the company plans to expand its presence in three more markets this year, adding that the new investors “could add strategic value” to its rapid expansion in Asia. The startup also is looking to enter the exotic asset space, such as sports teams and racing horses.

In addition, the company will provide security token technology and consulting to Dubai under a partnership it inked with The Private Office of Sheikh Saeed Bin Ahmed Al Maktoum and Seed Group. Liquefy will work with the government on initiatives, such as the regulation of security tokens, as well as collaborate with the private sector on tokenization.