China Asset Management Company (AMC) has launched US dollar and renminbi denominated tokenized money market funds in Hong Kong.

It comes six months after China AMC rolled out its Hong Kong dollar (HKD) denominated Digital Money Market fund in February, the first retail tokenized fund in Asia Pacific.

The ChinaAMC RMB Digital Money Market fund marks the world’s first tokenized fund denominated in renminbi.

Tian Gan, CEO of China AMC (HK) said: “This achievement underscores ChinaAMC (HK)’s commitment to innovation and the broader adoption of asset tokenization in the Web3.0 world.”

“It is our aim to develop practical approaches that promote capital efficiency and bring value to our clients.”

“We are excited to engage with partners to help establish compliant practices for on-chain capital and envision bringing more tokenized investment strategies for the benefit of investors.”

The money market funds will be made available across the three major currencies (HKD, USD, RMB) through qualified brokers and banks, as well as via virtual asset trading platforms (VATPs).

China AMC has partnered with traditional brokerages Citic Securities and Futu Holdings as well as SFC-licensed digital asset platforms OSL Group and Solowin Holdings.

Standard Chartered will serve as the custodian, tokenization agent and custodian as well as administrator, the firm said.

Jerry Zhang, global co-head of financial institutions coverage at Standard Chartered said: “Standard Chartered is pleased to support ChinaAMC (HK) in launching two new tokenized money market funds denominated in USD and RMB, extending the success of the tokenized HKD money market fund that we also supported for its launch earlier this year.”

Matthew Chan, head of product and investment solutions at CITIC Securities Brokerage (HK) said: “As a mature overseas wealth management platform, CITIC Securities Wealth Management Hong Kong is pleased to see our sister company, ChinaAMC (HK), launching a tripartite tokenized Money Market Fund (MMF), notably the world’s first tokenized fund denominated in RMB.”

“We believe that such products, when combined with stablecoins and the digital RMB, will promote financial innovation and support the internationalization of the RMB.”

Eugene Cheung, chief commercial officer at OSL, said: “The launch of ChinaAMC (HK)’s USD and RMB tokenized money market funds marks a pivotal moment in the evolution of digital finance.”

“Tokenized MMFs provide a gateway for both institutions and digital asset investors to access regulated yield opportunities with the efficiency and transparency of blockchain.”

“We believe this is only the beginning—as regulated digital money gains traction, the future of capital markets will be increasingly on-chain.”