Hong Kong's HashKey, Bosera to offer tokenised money market ETFs in April
Hong Kong-based cryptocurrency exchange HashKey Group and asset manager Bosera International will launch the world's first tokenised money market exchange-traded funds (ETFs) in April, the companies said in a joint statement on Friday.
The Hong Kong Securities and Futures Commission (SFC) has approved two new tokenised share classes - the Bosera HKD Money Market ETF and the Bosera USD Money Market ETF, according to the statement.
The products will allow investors allow exposure to high-quality money market instruments via blockchain-based tokens, enhancing asset allocation and risk management capabilities, the firms said.
"Under the current market trend of compliance, we expect more traditional financial institutions to actively enter the crypto finance sector through innovative tokenisation products," said Dr. Xiao Feng, chairman and CEO of HashKey Group.
The ETFs will be issued on HashKey Chain, the company's proprietary blockchain platform.
HashKey Exchange, which became Hong Kong's first licensed crypto trading platform to serve retail investors in August 2023, is currently the largest regulated virtual asset trading venue in the territory.
The launch aligns with Hong Kong's push to position itself as a center for Web3 - the blockchain-based evolution of the internet - and digital asset innovation through crypto-friendly regulatory measures designed to attract global cryptocurrency businesses.
(Reporting by Sherin Sunny in Bengaluru; Editing by Sonia Cheema)
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