Launch of Tokenized Money Market Fund in Hong Kong

The Hong Kong arm of ChinaAMC has introduced a tokenized money market fund to enhance blockchain-based investment options for retail investors.

Overview

China Asset Management (Hong Kong), a subsidiary of one of China‘s largest fund houses, in collaboration with Hong Kong-based crypto exchange OSL, has launched Hong Kong’s first retail tokenized money market fund.

The ChinaAMC HKD Digital Money Market Fund, approved by the Securities and Futures Commission, provides retail investors with blockchain-based access to money market assets, according to the South China Morning Post.

Standard Chartered Bank (Hong Kong) serves as the tokenization agent, digital platform operator, and administrator, while Standard Chartered Trust (Hong Kong) acts as the custodian. While no specific timeline was given, ChinaAMC (HK) aims to expand the fund to additional trading platforms in the future.

> “As the first asset manager in the Asia-Pacific region to launch a retail tokenized fund, ChinaAMC (HK) remains committed to the development and strategic expansion in the web3 investment space.”
> — Tian Gan, CEO of ChinaAMC (HK)

Context

Hong Kong officials are focusing on tokenization to attract global liquidity as the city enhances its digital asset initiatives. Financial Services Secretary Christopher Hui recently referred to tokenization as one of the “defining trends” that could transform traditional finance and advance Hong Kong’s position in web3.

This launch follows other tokenization initiatives in the city, such as the Hong Kong Monetary Authority’s Project Ensemble Sandbox, which tests tokenized money for interbank settlements, and HSBC’s introduction of its first retail tokenized gold product, the HSBC Gold Token.

Conclusion

With these developments, Hong Kong continues to solidify its role as a leader in the evolving landscape of digital finance and investment.