Robotaxi operations and battery-swapping stations will serve as the foundation for asset-backed financing products.
CaoCao Inc., a Chinese electric vehicle mobility platform, has signed a strategic memorandum of cooperation with Hong Kong‑licensed Victory Securities, according to a report published on August 6.
The partnership will focus on three areas: real‑world asset (RWA) tokenization, facilitating stablecoin payments, and supporting compliant digital currency issuance under Hong Kong’s regulatory framework.
CaoCao said the agreement will allow its core mobility assets to be connected with blockchain‑based financing structures.
“This strategic cooperation with Victory Securities is a significant initiative for us to embrace the digital economy, lay the foundation for the large‑scale operation of Robotaxi in the future, and release the value of green mobility assets,” said Gong Xin, Executive Director and CEO of CaoCao Inc.
“By connecting physical assets to digital finance through RWA, we can not only optimize capital efficiency and enhance liquidity, but also build innovative payment and value‑exchange infrastructure for a future travel service network that is highly automated and intelligent, thereby creating multi‑dimensional value,” said Gong.
The company has been expanding its Robotaxi operations, with pilot services launched in Suzhou and Hangzhou earlier this year. Plans include deploying L4‑level custom autonomous vehicles and building a fully automated system covering vehicle maintenance and energy supply.
All of CaoCao’s Robotaxi fleet uses renewable energy vehicles, which the company says have already cut over 3.1 million tons of carbon emissions. These vehicles, with their long‑duration operating profiles, are viewed as suitable RWA targets.
Victory Securities’ role includes leveraging its fund management and virtual asset custody licenses in Hong Kong to support asset‑backed tokens tied to CaoCao’s EV fleet and green mobility infrastructure.
CaoCao, incubated by the car manufacturer Geely Holding Group, completed 598 million ride‑hailing orders in 2024 and reported a 51.8% year‑on‑year increase in Q1 2025. It operates 435 battery‑swapping stations, generating recurring revenue and supporting its expanding autonomous fleet.
The company said tokenizing its mobility assets will help attract global investors while ensuring transparent reserve management under Hong Kong regulations.
