f ( n ) Future Native
Hong Kong · Confidential

A proposal for Hong Kong

Make Hong Kong the first to accredit the agent economy.

Before businesses can trust AI agents with money, contracts, and customer data, someone neutral has to keep the record of what those agents did. The first regulator to accredit that operator sets the standard the world copies. Hong Kong can be first.

The prize

Whoever names the standard first writes the rules everyone else adopts.

Every regulated market we have ever built rests on auditor independence — banks don't audit their own trades, exchanges don't clear their own orders. The agent economy has none of it yet. The first jurisdiction to put that independence in place — a neutral, accredited record of what AI agents do, on whose authority, against whom — becomes the reference the region passports from.

This is the same move Hong Kong made with its ATS regime and its VASP licensing: define the rules early, and the market organizes around you. Agent accountability is the next one of these — and it is wide open.

Why Hong Kong

No jurisdiction is better placed to move first — or move fast.

Track record

It has done this before

Hong Kong led on the ATS regime and one of Asia's first VASP licensing frameworks. It moves early on digital-asset infrastructure when the upside is regional leadership.

Standing

The rule-writer is on our team

Angelina Kwan — former SFC Director who drafted the ATS regime, former Head of Group Regulatory Compliance at HKEX — is our co-founder. We come in as co-author, not vendor.

Passport

It travels

A Hong Kong designation is globally credible. Win it here and it becomes the template we passport to Singapore, Malaysia, and the wider region.

The path

Four steps from conversation to accredited operator.

We don't pitch a finished product to the regulator. We co-design the standard with them in a sandbox — so the operator they accredit is the one who built what they specified.

Step 1Months 0–3

Engage & co-design

Bring the SFC into shaping the standard for agent accountability — framed against the auditor-independence principle they already enforce.

Relationship
Step 2Months 3–9

Sandbox pilot

Run a live pilot inside a regulatory sandbox — real businesses producing the signed audit record the regulator wants to see.

Proof
Step 3Months 9–15

No-objection → named in guidance

A published circular or guidance references the standard. This is the inflection — the moment the market must reference it.

Inflection
Step 4The outcome

Accredited operator of record

Hong Kong recognizes the neutral operator running the standard. Future Native is that operator — built on the rules you helped write.

The designation

What we'd build together

You open the door and shape the rules. We build everything behind it.

Future Native brings

The standard & the machine

  • The Trust Manifest standard — the open spec for a signed, neutral record of agent actions
  • The reference implementation — the engine that writes and verifies it, and the registry we operate
  • The capital & the team — funded by the round now closing; validator-grade engineering
  • The regional plan — Hong Kong first, then the passport to the rest of Asia
What we need from you

Standing & the regulatory lead

  • Open the room — get us in front of the SFC as a co-author, not a cold vendor
  • Shape the engagement — translate the standard into the language and form the regulator will adopt
  • Lead the path — own the regulatory relationship from first conversation through accreditation
  • Your judgment — tell us honestly whether HK is the fastest first win, or whether we start elsewhere

The outcome

In 12–18 months, Hong Kong is the first jurisdiction to accredit the agent economy.

A published reference names the standard. Future Native operates it as the accredited, neutral record. Hong Kong holds the first-mover position globally — and the architect of its ATS regime has done it again, this time for AI. From there, the standard passports outward: Singapore, Malaysia, and a region that follows Hong Kong's lead.

Let's decide together

Is Hong Kong where we go first?

Your read decides it. If the appetite and the speed are here, this is the cleanest path to the first designation — and you are the one who lands it.

Let's map the first moves