> For the complete documentation index, see [llms.txt](https://docs.matrix.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.matrix.io/hong-kong-stablecoin-25-26/real-world-asset/reports/matrix-ai-network-driving-hong-kongs-stablecoin-infrastructure-and-real-world-asset-tokenization/chapter-2-permissioned-vs.-public-chains-in-rwa/2.2-dual-chain-architecture.md).

# 2.2 Dual-Chain Architecture

For tokenizing Chinese-origin assets, many projects adopt a dual-chain architecture:

1. **Onshore Anchoring Phase:**

* Business and yield data are anchored on permissioned chains such as AntChain or Spark Chain;
* Compliance often involves regulatory sandbox participation and third-party audits.

2. **Offshore Issuance Phase:**

* A Hong Kong-based SPV or fund structure is established to legally host the offshore asset rights;
* Tokens are issued on a public chain such as Ethereum or Polygon and distributed to qualified investors.

Qualified investor participation requires meeting the following minimum conditions:

* An active account at a Hong Kong-based licensed bank;
* Proof of assets exceeding HKD 8 million, verifiable through a broker, bank, or trust company;
* Use of regulated distribution channels (e.g., Type 9 licensed fund managers, brokers, or private banks supporting RWA product placements).

Once issued, the asset ownership exists as tokenized rights on a public chain, while the legal yield entitlement is held by the SPV. This structure allows cross-border sale and transfer to qualified global investors under local regulatory frameworks.


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