Chinese fund house giant launches tokenized money market fund in Hong Kong

The Hong Kong arm of Chinaamc introduced a tokenized monetary market fund in order to extend investment options based on blockchain for retail investors.

China Asset Management (Hong Kong), a subsidiary of one of the Chinathe largest fundraisers launched Hong KongFirst retail tokenized Monetary market funds in collaboration with Crypto Exchange based in Hong Kong Osl.

The so-called CHINAAMC ​​HKD digital money market, approved by the Securities and Futures Commission, offers accessors based on Blockchain retail investors, the market of the southern China, the Morning Post reports.

Standard Charterd Bank (Hong Kong) is the tokenization agent, the digital platform operator and the administrator, while Standard Chartered Trust (Hong Kong) acts as a goalkeeper. Although no delay has been given, Chinaamc (HK) plans to extend the fund to more commercial platforms in the future.

“As the first asset manager in the Asia-Pacific region to launch a retail tokenized fund, Chinaamc (HK) remains attached to strategic development and expansion in the web investment space.”

Tian Gan, CEO of Chinaamc (HK)

Hong Kong officials are betting on tokenization to attract global liquidity while the city accelerates its digital asset efforts. The secretary of financial services Christopher Hu recently called Tokenization one of the “decisive trends” that could reshape traditional finance and push Hong Kong further in the web3.

This decision follows other tokenization efforts in the city. In August 2024, the monetary authority of Hong Kong spear Project Sandbox ensemble to test tokens money for interbank colonies. Earlier in March, HSBC presented its first retail tokenized gold product, the HSBC Gold token.