China Merchants Bank Enters the DeFi Arena: $3.8B MMF Tokenized on BNB Chain

China Merchants Bank’s Hong Kong subsidiary has taken a significant leap towards integrating traditional finance with blockchain technology by tokenizing a $3.8 billion money market fund (MMF) on the BNB Chain. This move marks a milestone in bridging the gap between real-world assets (RWA) and the burgeoning world of crypto and DeFi. The initiative, which began in early 2024, offers institutional and accredited investors unprecedented access to RWA within a regulated framework. This innovative approach underscores China Merchants Bank’s commitment to exploring new avenues for asset digitization in line with evolving regulatory landscapes.