China Launches First Tokenized Money Market Fund on HKEX

China Asset Management (Hong Kong) Limited has set a milestone in finance by launching its HKD Digital Money Market Fund as a tokenized product on the Hong Kong Stock Exchange. This debut marks the first of its kind in Asia-Pacific, offering retail investors a chance to engage with blockchain technology for investment purposes without being impacted by cryptocurrency price fluctuations. The fund, listed under stock code 3471, leverages Ethereum’s ERC-20 standard for enhanced transparency and accessibility in financial markets. 89.66 million Hong Kong dollars (USD $11.48 Million) has been put into the fund, showcasing real-world blockchain applications.