Tokenizing private shares sparks debate at Consensus Hong Kong

The idea of tokenizing the shares of unlisted companies has emerged as a hot topic at Consensus Hong Kong 2026, CoinDesk reported. Ultan Miller introduced Hecto Finance, an on-chain token index designed to track the performance of unlisted companies valued at over $100 billion, such as SpaceX and OpenAI. The index is being developed on the Canton Network, a blockchain for real-world asset tokenization. Under this model, investors would deposit funds into a vault and receive tokens proportional to the index's performance. However, Edwin Mata, CEO of the tokenization platform Brickken, expressed concern over the concept. He argued that tokenizing shares without a company's consent could undermine investor protection and erode market trust. Mata added that immature players, chasing profits without knowledge of securities structuring or corporate law, are causing confusion in the market.