China to Launch Its First State-Backed ‘Digital Asset’ Marketplace

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China to Launch First National ‘Digital Asset’ Marketplace

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China is launching its first state-backed non-fungible token (NFT) marketplace, the latest sign of embrace for a technology that has occupied a legal gray area within the country’s notoriously strict regulations on cryptocurrency.

A ceremony celebrating the launch of the marketplace will be held in Beijing on Sunday.

The platform will be run by three state-owned and private entities, including China Technology Exchange and Art Exhibitions China, both of which are government-backed, and Huban Digital, a private company, according to a report by Chinese state media outlet China Daily.

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