Kraken Market Watch: Hong Kong’s DL Holdings Tokenizes Animoca Brands on XRP Ledger in Landmark Digital Asset Move

In a significant development for cryptocurrency markets, Hong Kong-listed DL Holdings Group Limited is advancing ambitious plans to tokenize private equity interests in Animoca Brands through a limited partnership fund structure. This groundbreaking initiative will utilize the XRP Ledger infrastructure and has received official approval under Hong Kong's Cyberport "Blockchain & Digital Asset Pilot Subsidy Scheme" as confirmed in September 2025. The project represents a major institutional adoption case that could have substantial implications for digital asset markets, including potential trading activity on major exchanges like Kraken. The tokenization scheme focuses on Animoca Brands' special purpose vehicles (SPVs), marking one of the most substantial real-world asset tokenization projects in the Asian market. DL Holdings has already demonstrated serious commitment to the digital asset space with $5.7 million deployed across various technology investments, establishing a solid foundation for this tokenization initiative. This move signals growing institutional confidence in blockchain infrastructure and tokenization technology, potentially creating new investment vehicles that could eventually trade on global cryptocurrency exchanges. For platforms like Kraken, this development represents the continuing maturation of cryptocurrency markets and the expanding intersection between traditional finance and digital assets. The use of XRP Ledger for such a high-profile tokenization project validates the technology's capabilities for enterprise-level applications. As more traditional financial instruments become tokenized, exchanges like Kraken may see increased institutional participation and new asset classes emerging on their platforms. This project could serve as a blueprint for future tokenization efforts globally, potentially driving increased liquidity and diversification across cryptocurrency markets.

DL Holdings to Tokenize Animoca Brands SPVs on XRP Ledger

DL Holdings Group Limited, a Hong Kong-listed company, is forging ahead with plans to tokenize private equity interests in Animoca Brands through a limited partnership fund (LPF). The initiative will leverage the XRP Ledger and has secured approval under Hong Kong’s Cyberport "Blockchain & Digital Asset Pilot Subsidy Scheme" as of September 2025.

The firm has already deployed $5.7 million across tech investments, including stakes in ByteDance, Kraken, and eSelf AI. These positions may eventually be digitized on-chain via special investment funds, though distribution plans remain undecided.

Parallel efforts are underway to tokenize DL Tower, a commercial property in Hong Kong's Central district. Subsidiaries have submitted updated filings to the Securities and Futures Commission, signaling growing institutional embrace of asset digitization.

Kraken Expands into Traditional CME Futures with Gold, Oil, and Equity Indices

Kraken Derivatives US has launched CME Group futures contracts, offering traders exposure to oil, gold, and major equity indices like the S&P 500. The move bridges crypto and traditional markets, with competitive pricing at 0.5 basis points.

The exchange now supports energy, metals, and forex derivatives, positioning itself against both legacy brokers and crypto-native platforms. Direct CME connectivity caters to institutional traders seeking cross-asset efficiency.