Latest news with #HashKeyChain
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)
Yahoo
26-03-2025
- Business
- Yahoo
China's CPIC Rolls Out $100M Tokenized Fund with HashKey as RWA Trend Expands in Asia
China Pacific Insurance (CPIC) Investment Management, a Hong Kong-based subsidiary of one of China's largest insurance groups, rolled out a tokenized U.S. dollar money market fund as the asset tokenization trend is expanding to Asia. The eStable Money Market Fund (MMF) was launched on the HashKey Chain, a permissioned blockchain for institutional users developed by digital asset group HashKey, and has secured $100 million in subscription on the first day, according to a Monday press release. The product is only accessible for professional and institutional investors and invests in U.S. dollar-denominated short-term fixed income assets and money market instruments. The PAC serves as the tokenization issuance platform for the fund, while Standard Chartered Bank provides registration and fund administration services. Asset managers around the globe are increasingly putting traditional financial instruments such as government bonds, credit, and funds on blockchain rails, a process often referred to as tokenization of real-world assets (RWAs). By doing so, they seek to achieve operational and efficiency gains and faster, around-the-clock settlements. U.S.-based issuers like Franklin Templeton and BlackRock have been spearheading the tokenization efforts of U.S. Treasury securities as a blockchain-based facility to manage cash holdings, similar to a money market fund. Last week, Fidelity Investments also filed for regulatory approval to enter the market with a fund built on the Ethereum network. This is a fast-growing market: the total market value of yield-generating some 500% over the past year to almost $4.8 billion, data shows. "The essence of finance is the flow of value across time and space, and blockchain is the new infrastructure for this process," said Dr. Xiao Feng, chairman and CEO of HashKey Group. "Integration with traditional finance is an important direction for future Web3 development and one of the directions with the greatest certainty," CG Zhou, CEO of CPIC Investment Management, said in a statement, adding that the company will seek to tokenize more traditional assets using compliance-driven blockchains. Sign in to access your portfolio
