Chinese Fund House Giant Launches Tokenized Money Market Fund in Hong Kong

ChinaAMC, one of China’s largest fund houses, has launched Hong Kong’s first retail tokenized money market fund in collaboration with the Hong Kong-based crypto exchange OSL. The new fund, named the ChinaAMC HKD Digital Money Market Fund, is designed to provide retail investors with blockchain-based access to money market assets. It has received approval from Hong Kong’s Securities and Futures Commission, marking a significant step in the region’s financial sector.

The tokenization of this fund is facilitated by Standard Chartered Bank (Hong Kong), which acts as the tokenization agent, platform operator, and administrator, while Standard Chartered Trust (Hong Kong) serves as the custodian. This move is part of a broader effort by ChinaAMC (HK) to expand its footprint in the blockchain and web3 investment space.

The Hong Kong government has been heavily investing in blockchain technology, with Financial Services Secretary Christopher Hui emphasizing tokenization as a key trend that could reshape traditional finance and position Hong Kong as a leader in web3 development. The city has been actively encouraging tokenization to attract global liquidity, as shown by other initiatives such as HSBC’s tokenized gold product and the Hong Kong Monetary Authority’s Project Ensemble Sandbox to test tokenized money for interbank settlements.

ChinaAMC (HK) has ambitious plans to expand the tokenized money market fund across more trading platforms, further integrating blockchain technology into investment products. This move underscores Hong Kong’s position as a growing hub for digital assets and blockchain-based financial services.