China Asset Management Hong Kong (ChinaAMC HK) is partnering with Standard Chartered to issue one of the first tokenized money market funds (MMFs) in Asia to target retail investors. It confirmed it has received approval from the Securities and Futures Commission (SFC). The tokenized fund, which aims to launch later this month, will use Libeara, the tokenization platform incubated by StanChart’s SC Ventures.
ChinaAMC HK is a subsidiary of the mainland asset manager with more than $360 billion in assets under management. State-owned CITIC Securities is the majority shareholder. Last year the asset manager listed spot Bitcoin and Ether ETFs in Hong Kong.
Prior to the issuance of the fund, the asset manager participated in a trial as part of Hong Kong’s Project Ensemble, partnering crypto exchange OSL. It would make sense for OSL to act as a distribution partner for this fund, which has been confirmed.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
