Latest news with #BoseraHKDMoneyMarketETF
Zawya
28-03-2025
- Business
- Zawya
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)
South China Morning Post
28-03-2025
- Business
- South China Morning Post
Hong Kong to get world's first tokenised money market ETFs from Bosera and HashKey
Chinese fund house Bosera Asset Management (International) and cryptocurrency exchange operator HashKey Group said they plan to launch the world's first tokenised money market exchange-traded funds (ETFs) in Hong Kong, underscoring the city's ambition to become a digital-asset hub. Advertisement The duo said in a statement on Friday that they would add new tokenised share classes to two existing money market ETFs – Bosera HKD Money Market ETF and USD Money Market ETF – providing both retail and institutional investors with a low-risk, blockchain-based liquid investment option. The ETFs, which have been approved by the Securities and Futures Commission, will be launched in April. Through tokenisation, the rights to an asset, such as a money-market fund, are converted into a digital token that can be traded on a distributed ledger technology network. Money market funds typically invest in low-risk, short-term debt securities such as commercial paper and treasury bills, providing liquidity and preserving capital while offering returns. Money market ETFs offer similar benefits but often have higher trading flexibility on stock exchanges. '[Compared with] traditional money market funds, this product greatly improves transparency and operational efficiency through blockchain technology, enabling investors to gain direct exposure to high-quality money market instruments by tokens, thereby fulfilling their asset allocation and risk management needs,' the firms said. Tokenisation has the potential to make financial transactions more efficient, transparent and less costly, according to HKMA chief executive Eddie Yue. Photo: Jonathan Wong Tokenised money market ETFs are one of the use cases in the Hong Kong Monetary Authority's (HKMA) Project Ensemble sandbox , which explores the tokenisation of real-world assets (RWAs) and facilitates a new financial market infrastructure that involves digital money and assets. Tokenisation has the potential to make financial transactions more efficient, transparent and less costly, Eddie Yue Wai-man, chief executive of HKMA, said last August at the launch of the sandbox.
