China Asset Management ( Hong Kong ) Limited ( ChinaAMC (HK )) is set to launch the first tokenized retail money market fund in Asia-Pacific, tentatively by the end of February.

Standard Chartered Bank ( Hong Kong ) Limited is supporting the deal as the digital asset service provider, with Standard Chartered Trustee ( Hong Kong ) Limited acting as the open-ended fund company custodian for the fund.

Capitalizing on the advanced technology of Libeara, a tokenization platform incubated by its innovation arm SC Ventures, Standard Chartered collaborates with ChinaAMC ( HK ) to build an ecosystem for its tokenized money market fund, with a comprehensive suite of securities services and technology solutions to enable tokenization of the fund, fiduciary, fund administration, custody and cash services.

According to Mary Huen, chief executive officer, Hong Kong and Greater China & North Asia, Standard Chartered, the deal marks another milestone in the development of Hong Kong as a global digital assets hub. "Standard Chartered believes that digital assets are fundamentally transforming the ecosystem of the financial markets. We are dedicated to meeting our clients’ needs in seizing the current huge opportunities,” she says.

ChinaAMC ( HK ) CEO Tian Gan adds: “Leveraging Standard Chartered’s cutting-edge custody services and groundbreaking tokenization platform, we have successfully facilitated the efficient issuance of this tokenized money fund. Through this partnership, we aspire to assist Hong Kong in establishing a hub for digital finance, while simultaneously providing technologically-enabled innovative financial products to investors.”

ChinaAMC ( HK ) is one of the first fund management companies from mainland China licensed to conduct asset management business in Hong Kong and one of the first Renminbi Qualified Foreign Institutional Investor fund managers.