Hong Kong’s financial sector has taken another step to deepen its blockchain integration with the launch of the city’s first retail tokenized money market fund.
China Asset Management (Hong Kong) (ChinaAMC HK), a subsidiary of one of China’s leading fund houses, has introduced the ChinaAMC HKD Digital Money Market Fund in collaboration with local cryptocurrency exchange OSL, the South China Morning Post reports.
The fund, which has been approved by the island’s Securities and Futures Commission (SFC), offers retail investors access to money market assets through blockchain technology. This initiative aligns with Hong Kong’s broader push to establish itself as a hub for digital assets and tokenized finance.
Standard Chartered Bank (Hong Kong) plays a key role in the fund’s operations, acting as the tokenization agent, digital platform operator, and administrator, while Standard Chartered Trust (Hong Kong) serves as the custodian.
Although no official timeline has been provided, ChinaAMC (HK) has signaled its intention to expand the fund’s availability across multiple trading platforms in the future.
Hong Kong’s financial authorities have been actively promoting tokenization as a way to enhance liquidity and attract global investment. Financial Services Secretary Christopher Hui recently highlighted tokenization as one of the key trends reshaping traditional finance and positioning Hong Kong at the forefront of web3 adoption.
This development follows a series of recent tokenization initiatives in the city. In August 2024, the Hong Kong Monetary Authority (HKMA) launched Project Ensemble Sandbox, an initiative testing tokenized money for interbank settlements. According to the HKMA, several banks have already integrated their tokenized deposit platforms into the sandbox, enabling real-time testing of payment-versus-payment and delivery-versus-payment settlement mechanisms.
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