BlackRock has received regulatory authorization from Hong Kong’s Securities and Futures Commission (SFC) for the BlackRock HKD Digital Liquidity Fund. It will be the asset manager’s first tokenized fund offering in Hong Kong and the Asia Pacific region. Standard Chartered will act as custodian, fund administrator, trustee and tokenization partner for the fund.
The Hong Kong dollar denominated fund will invest in high quality, short term HKD money market instruments such as government bills and deposits. Investors will be able to subscribe and redeem using fiat currency or digital cash, including HKDAP, a regulated HKD stablecoin issued by Standard Chartered-led Anchorpoint Financial. This is the first commercial application for Standard Chartered as a bank distributor of HKDAP.
The fund adds a fourth currency to BlackRock’s tokenized money market (MMF) fund suite, which already spans USD, EUR and GBP across the United States and Europe. Each region uses different infrastructure. Stateside, Securitize provides tokenization for two funds (BUIDL and BRSRV) while BNY handles a third (BSTBL). In Europe, JP Morgan’s Kinexys platform provides the tokenization layer for a dozen share classes across six Institutional Cash Series funds. In Hong Kong, Standard Chartered takes on the full range of roles spanning traditional fund administration and digital infrastructure.
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