HKNEX and PQA Labs Announce Strategic Partnership to Advance Digital Asset Innovation in Hong Kong
HONG KONG — July 20, 2025
HKNEX, a subsidiary of the investment and capital management company JME Capital, and PQA Labs Limited have announced a strategic partnership to establish Poly Digital Asset Limited. This new joint venture will formally apply to the Hong Kong Monetary Authority for a stablecoin license.
Both parties are confident that this collaboration will leverage their respective strengths and resources to advance cross-border trade settlement services for a diverse array of real-world assets (RWAs), including tokenization of art pieces and collectibles. This initiative aims to enhance interaction within cultural and artistic industries, stimulate artistic exchanges between the Middle East and Southeast Asia, and inject new momentum into Hong Kong’s digital asset market. The partnership seeks to establish a leading hub for art and cultural transactions between APAC, the Middle East, and emerging markets.
Danny Lung, Co-Founder & CEO of PQA Labs, stated that since its inception in early 2024, PQA Labs has been actively preparing for stablecoin issuance. The company has engaged in multiple rounds of communication with the Hong Kong Monetary Authority and emphasized its readiness across regulatory, technical, auditing, and risk management dimensions. PQA Labs highlights its proprietary quantum-resistant blockchain encryption technology, which has garnered recognition as a key enabler for the long-term sustainability and versatile application scenarios of stablecoins.
Matthew Tai, CEO of JME Capital and representative of HKNEX, emphasized the vital role of stablecoin development in Hong Kong for facilitating disintermediated trading. HKNEX, backed by the diverse access and resources of its shareholders, possesses a wide array of cultural and artistic assets from various countries. By harnessing the disintermediated nature of Hong Kong’s stablecoin infrastructure, the company aims to promote online cross-border cultural and art transactions, focus on settlement for cross-border trade and investment, and explore digital cultural and art auctions. These efforts are expected to accelerate regional digital economic integration and cultural industry exchanges, further cementing Hong Kong’s strategic position as a Web3 financial and cultural hub and a digital trade gateway for the Belt and Road Initiative.
Both parties envision that the Joint Venture will extend beyond stablecoin issuance in Hong Kong. They aim to develop a broader range of digital cultural and artistic products, transitioning cultural assets from the physical realm into their tokenized form. This endeavor marks the beginning of a new “Digital Silk Road,” aspiring to bring China’s digital cultural and artistic creations to Central Asia, the Middle East, Europe, and beyond.
About PQA Labs
PQA Labs is a Hong Kong-incorporated stablecoin and blockchain solutions provider. The company is committed to delivering secure, compliant, and quantum-resistant fiat-backed stablecoins. By leveraging advanced post-quantum blockchain technology, PQA Labs aims to ensure financial transactions remain secure, transparent, and reliable for global users.
About HKNEX
HKNEX, backed by Macau Poly Group, builds and operates a platform using its non-fungible blockchain technology to allow intangible assets, such as IPs and copyright, to be fragmented and shared by different stakeholders, enabling their simultaneous use and application across various industries and areas to enhance asset value. It aims to leverage its shareholder’s renowned auction business and large contemporary art collection to enhance the sustainability and continuity of the company’s long-term development.
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