Nasdaq-listed NewGenIVF Group Limited (NASDAQ: NIVF) has originated a UAE real-estate-backed tokenized bond, with Hong Kong as the issuance and distribution base. The transaction references a residential real estate development located near the Wynn-branded integrated resort project in Ras Al Khaimah, United Arab Emirates.

The issuance represents one of the first instances of a U.S.-listed company tokenizing and issuing a bond in Hong Kong, and the first casino-related real-estate-backed bond issuance in the jurisdiction. It is also EVIDENT’s first tokenized bond underwriting of the year.

Transaction Structure and Regulatory Approach

The bond is structured as a traditional corporate debt instrument issued by NewGenIVF, rather than as a fractionalized property token. Tokenization is applied as a technology layer to the bond structure, while the instrument itself is treated as a security under existing legal and regulatory frameworks. The approach reflects a focus on regulatory compliance and alignment with established securities laws, rather than introducing novel ownership models.

The issuance is intended to finance a UAE residential real estate project developed through NewGenIVF’s local partnerships. While the underlying asset is located in the UAE, the bond is originated and distributed through Hong Kong’s digital asset ecosystem.

EVIDENT’s Role as Licensed Digital Market Infrastructure

EVIDENT is formally engaged by NewGenIVF in connection with the tokenized bond issuance. As described in the source documents, EVIDENT is a Hong Kong–based, SFC-licensed investment platform focused on tokenized alternative assets and provides end-to-end digital infrastructure supporting tokenized bond issuance and distribution.

The engagement forms part of NewGenIVF’s broader tokenization strategy, under which the company has announced plans to launch up to USD 30 million in tokenized bond issuances targeted for completion by the first quarter of 2026, subject to market conditions and regulatory requirements.

Market Context

The transaction takes place against a broader backdrop of tokenized bond activity in Hong Kong, which has progressed from public-sector and pilot initiatives toward issuer-led commercial transactions. As noted in the materials, the focus of tokenization in this context is on execution, distribution, and access, while maintaining legal certainty and investor protection through established regulatory frameworks

The NewGenIVF tokenized bond issuance illustrates the application of tokenization to a traditional fixed-income structure within an existing regulatory environment. The transaction reflects an approach in which tokenization is deployed as a delivery and distribution mechanism, rather than as a replacement for established legal or financial structures.

NewGenIVF Group Limited Investor Release: https://investors.newgenivf.com/news-releases/news-release-details/nivf-appoints-award-winning-web3-leader-joshua-chu-spearhead

Blockwind News: https://blockwind.news/2026/01/25/nasdaq-newgenivf-taps-hong-kong-for-first-uae-real-estate-backed-tokenized-bond/