Resonance: The integration of traditional finance and on-chain ecology
Under the sweeping wave of global digital transformation, blockchain technology has undergone years of evolution and has gradually been implemented from a conceptual concept to a practical application solution. At the same time, the demand for digital assets in the global financial market has shown explosive growth. In this environment, the competitive pressure faced by traditional financial institutions is increasing day by day, and the limitations of their original asset operation model in terms of transparency, liquidity and operational efficiency are becoming increasingly prominent. In order to break through the development bottleneck, traditional financial institutions have turned their attention to the integration of blockchain technology and RWA (Real World Asset), hoping to use the distributed ledger, encryption algorithm and other characteristics of blockchain to achieve real-time sharing, efficient circulation and precise control of asset information.
Financial Innovation in the RWA Era
In March 2025, China Pacific Insurance Investment Management Co., Ltd. (Hong Kong) took a milestone step in the field of financial innovation, successfully deploying the tokenized USD MMF (Money Market Fund) "CPIC Estable MMF" to HashKey Chain, realizing the refined management of fund shares on the blockchain. This cooperation is not a simple technology superposition, but a bold attempt by traditional financial institutions to actively embrace emerging technologies at the strategic level and deeply transform existing business processes. It marks that the application of blockchain technology in the traditional financial field has moved from the edge to the core, bringing all-round innovation from concept to practice to institutional-level asset management, and reshaping the issuance, management and trading pattern of financial products.
Since HashKey Chain was launched by HashKey Group in December 2024, it has quickly emerged in the blockchain field. It is compliance-oriented, with high efficiency and low cost as its goals, and is committed to building a bridge between traditional finance and the Web3 ecosystem. Its uniqueness lies in that it not only follows strict regulatory standards to ensure that all business operations comply with legal and regulatory requirements, but also conducts in-depth research on the operating logic of the traditional financial system, and achieves seamless connection between the two through technological innovation, providing a new infrastructure option for the digital transformation of the financial industry.
China Pacific Insurance Asset Management's pioneering exploration in Hong Kong
China Pacific Insurance Investment Management Co., Ltd. (Hong Kong) is an important strategic fulcrum for China Pacific Insurance Group to deploy in the Hong Kong market. It is a global outstanding enterprise that has been listed in the Fortune 500 for 13 consecutive years. In the Hong Kong insurance asset management market, it has built a business structure driven by cross-border asset allocation and a stable income strategy, with a management scale of more than HK$75 billion, relying on its profound industry accumulation and professional management team, and has become an important force for the stable development of Hong Kong's financial market.
CPIC Estable MMF completed the tokenization issuance through thePAC platform, and Standard Chartered Bank was responsible for custody, registration and fund administration services, ensuring that the product was strictly regulated by the Hong Kong Securities Regulatory Commission and operated in accordance with the Hong Kong Open-Ended Fund Company (OFC) framework. The fund focuses on the risk preferences and investment needs of professional investors, focusing on short-term deposits denominated in US dollars and high-quality money market instruments. The subscription scale on the first day exceeded US$100 million, demonstrating the market's high recognition of its investment strategy and innovative model.
The on-chaining of CPIC Estable MMF is the result of financial technology innovation and regulatory wisdom. It means that traditional financial institutions, while adhering to the bottom line of compliance, fully utilize the advantages of blockchain technology to achieve innovative breakthroughs in asset forms, management models and transaction mechanisms, providing a valuable practical sample for the transformation of traditional finance to an on-chain ecosystem, and also winning a first-mover advantage for the Hong Kong financial market in the global digital financial competition.
Win-win: Two-way empowerment in ecological construction
Breakthrough progress in institutional-level DeFi
For HashKey Chain, the successful hosting of compliant tokenized MMF is a major breakthrough in the field of institutional-level DeFi (decentralized finance). This practical achievement not only verifies the reliability and security of HashKey Chain at the technical level, but more importantly, it proves the outstanding ability of the public chain in meeting the complex business needs of traditional financial institutions. In the context of increasingly stringent financial supervision, HashKey Chain has become an ideal platform for the tokenization of financial products such as bonds, funds, and stablecoins by virtue of its strict compliance with compliance and deep adaptation to traditional financial processes. As more and more institutional-level assets choose to digitally transform on HashKey Chain, its ecosystem will continue to be enriched and improved, attracting more developers, investors, and service providers to participate, forming a virtuous circle, and promoting the continued rise of the influence of the public chain in the global financial technology field.
Strategic upgrade of China Pacific Asset Management Hong Kong
This cooperation is a key move of China Pacific Insurance's strategic layout in the field of RWA. As a leader in Hong Kong's insurance asset management industry, China Pacific Insurance took the lead in tokenizing MMF, accumulating valuable experience for the company's future exploration of blockchain in a wider range of asset categories, such as bonds, equities, and insurance products. Tokenization not only improves the liquidity of the fund and enables assets to achieve value conversion in a shorter time, but also significantly enhances transparency. Investors can obtain detailed information on assets in real time, effectively reducing the risks brought by information asymmetry. This innovative move has laid a solid technical foundation for China Pacific Insurance to expand its international market and attract global institutional investors, and has enhanced the company's competitiveness in the international financial market. In addition, with the help of blockchain smart contracts, the fund management process has been simplified and optimized, reducing operational errors and moral risks that may be caused by manual intervention, while reducing operating costs and increasing investors' returns, further consolidating China Pacific Insurance's leading position in the industry.
This cooperation consolidates HashKey Chain's leading position in the institutional DeFi track, making it the preferred partner for global financial institutions in the process of digital transformation; at the same time, it also opens up a new path for China Pacific Asset Management Hong Kong to empower traditional finance with blockchain technology, injecting new vitality into the company's future diversified development. As the tokenized asset market continues to mature, the two parties are expected to deepen cooperation in a wider range of fields, jointly promote the digitalization of more RWA assets, help the global financial market move towards a more open, transparent and efficient on-chain financial system, and lead the financial industry into a new stage of development.
Support: HashKey Chain's technical foundation
CPIC Estable MMF chose HashKey Chain as the tokenization deployment platform and relied on it to manage fund shares. This decision reflects a deep understanding and full consideration of the multi-dimensional technical advantages of HashKey Chain. HashKey Chain's excellent performance in low cost, high efficiency, security and compliance provides solid and reliable technical support for the chain and circulation of institutional-level assets.
Low-cost and high-efficiency trading environment
HashKey Chain adopts an advanced high-performance architecture and optimizes the transaction costs on the chain from the underlying technical design. In the traditional public chain system, high gas fees have always been one of the main factors restricting the tokenization of institutional-level assets, which not only increases transaction costs, but also limits the frequency and scale of transactions. HashKey Chain uses innovative technical means to significantly reduce the gas fee of each on-chain transaction to around US$0.001, which is much lower than traditional public chains such as the Ethereum mainnet, reducing the cost of high-frequency operations such as fund subscription, redemption and share transfer to a reasonable range recognized by institutions. For MMFs with frequent fund operations, this low-cost feature greatly improves the turnover efficiency of funds, enhances the economic feasibility of institutions using blockchain technology for asset management, and lays the foundation for the efficient operation of MMFs in the blockchain environment.
Smart contract-driven automated management
In terms of asset management processes, HashKey Chain has achieved a qualitative leap in fund operation efficiency with the help of an automated mechanism driven by smart contracts. The core business processes of CPIC Estable MMF, such as subscription, redemption, and income distribution, are all automatically executed by on-chain smart contracts, reducing operational risks and human errors that may be caused by manual intervention, while ensuring instant settlement of transactions, and funds can be transferred and confirmed in an instant. The programmable nature of smart contracts gives fund managers greater flexibility. They can modify and optimize fund operations in real time according to market changes and adjustments to investment strategies, achieve rapid response to market dynamics, improve overall income management capabilities, and create more value for investors.
Double guarantee of safety and compliance
Security and compliance are the core elements that institutional investors pay the most attention to, and HashKey Chain is particularly outstanding in this regard. It cleverly combines the transparency of blockchain and the compliance system of traditional finance, providing all-round protection for the tokenization of MMF. The custody and administration of the fund are handled by Standard Chartered Bank, which has rich experience and a good reputation, covering key links such as registration, asset custody, and fund administration, ensuring that assets always strictly comply with regulatory requirements and avoid potential compliance risks; at the same time, the smart contracts related to the fund must undergo strict security audits, and a professional security team will conduct a comprehensive code inspection to prevent potential vulnerabilities and security risks and reduce technical risks. All fund transactions and share change information are fully recorded on the blockchain, and investors can query them at any time through the blockchain browser, which realizes the high transparency and verifiability of the asset management process and enhances investors' trust in the fund.
In addition, HashKey Chain has excellent scalability and cross-chain interoperability, and can support high-throughput transactions to meet the needs of large-scale capital flows and complex business scenarios. Its potential to be compatible with other public chains in the future has opened up broad space for the development of CPIC Estable MMF, which means that while the fund is running on HashKey Chain, it is expected to access a wider DeFi ecosystem, further expand investment channels, enhance the liquidity of tokenized assets, and enhance the market value and competitiveness of the fund.
In general, HashKey Chain provides a solid and powerful technical support for MMF tokenization through its technical advantages in low transaction costs, efficient smart contracts, strong security and cross-chain compatibility. This technical architecture not only enables institutions to boldly explore innovative on-chain asset management models under the premise of safety and compliance, but also provides a feasible technical path for the deep integration of traditional finance and blockchain, promotes the acceleration of the digital transformation of the financial industry, and has important demonstration significance in the wave of global financial technology development.
Trend: Blockchain will eventually transform global asset management
This cooperation has left a strong mark in the development history of HashKey Chain and China Pacific Insurance, and its impact far exceeds the two institutions themselves, which deeply indicates that blockchain technology will set off a revolution in the global asset management industry and reshape the industry landscape. With the continuous acceleration of the RWA tokenization process, blockchain is gradually becoming the core infrastructure for the transformation of the traditional financial system to digitalization and intelligence, injecting a steady stream of power into the innovative development of the financial industry.
Explosive growth of the RWA market
In recent years, the RWA track has shown a rapid growth trend. In 2024, the market size has successfully exceeded US$10 billion, and is expected to achieve exponential growth in the next five years, reaching US$1 trillion. Behind this growth is the strong demand for digital transformation of assets in the global financial market and the strong promotion of technological innovation. Global financial centers such as Hong Kong, Singapore, and Switzerland have keenly captured this development trend and have successively introduced clearer and more complete regulatory frameworks, providing clear policy guidance and compliance guarantees for the on-chain of RWA assets. Driven by favorable policies, more and more institutions have begun to pay attention to financial products on the blockchain. The continuous influx of institutional funds has not only injected strong liquidity into on-chain finance and enhanced market stability, but also provided a more solid financial foundation and innovative power for the development of the DeFi ecosystem, driving the industry to continue to develop in depth.
The rise of institutional DeFi
At the same time, compliant DeFi is on the rise, gradually changing the traditional DeFi ecosystem dominated by individual users. Unlike the high volatility, high risk and lack of effective supervision of early DeFi products, institutional-level DeFi solutions pay more attention to compliance, security and stable returns, and emphasize providing investors with reliable financial services under the premise of complying with laws and regulations. This shift has made compliant public chains a more favored partner for financial institutions in the process of digital transformation. Compliance-friendly public chains like HashKey Chain, with their low-cost, high-efficiency technical architecture and accurate grasp and deep adaptation of institutional investors' needs, are gradually becoming an important cornerstone of future global asset management, providing key support for building a safe, stable and efficient global financial system.
Leading the financial industry into a new stage
The successful deployment of CPIC Estable MMF on HashKey Chain provides a case with great reference value for the global financial market, and vividly demonstrates the feasibility and huge potential of RWA tokenization. It not only proves that blockchain technology can effectively improve the operating efficiency and transparency of traditional financial products, but also provides a reference model and experience for financial institutions to carry out innovative business under the compliance framework. With the continuous maturity of blockchain technology and the deep participation of traditional financial institutions, we have reason to believe that a new era of truly compliant, secure and transparent on-chain finance is coming, and the global asset management industry will move towards a more efficient, open and innovative future, providing strong financial support for the sustainable development of the global economy.
