Hong Kong Arm of ChinaAMC has introduced a token money market fund in a bid to expand blockchain-based investment options for retail investors.
China Asset Management (Hong Kong), one of the largest fund houses in China, has launched Hong Kong’s first retail token money market fund in collaboration with Hong Kong -based Crypto Exchange OSL.
The so-called Changianamc HKD Digital Money Market Fund, Retail Investor Blockchain-based Money Market Assets, The South China Morning Post offers the so-called Changianamc HKD approved by the Securities and Futures Commission Reports,
Standard Chartered Bank (Hong Kong) serves as a tokening agent, digital platform operator and administrator, while the Standard Chartered Trust (Hong Kong) serves as a custodian. While no time limit was given, the ChinaAMC (HK) plans to expand funds on more trading platforms in future.
“To launch a retail tokelized fund as the first asset manager in the Asia-Pacific sector, ChinaAMC (HK) is committed to development and strategic expansion in the web 3 investment location.”
Tian Gan, CEO of Changeamc (HK)
Hong Kong officials are betting on tokens to attract global liquidity as the city enhances its digital asset efforts. Financial Services Secretary Christopher Hui recently said one of the “defined trends” that can reopen traditional finance and push Hong Kong forward in web 3.
This step follows other tokening efforts in the city. In August 2024, Hong Kong Monetary Authority launched the Project Ensambal Sandbox to test the token money for interbank settlements. Earlier in March, HSBC introduced its first retail toked gold product, HSBC Gold Token.
