The Hong Kong dollar and US dollar money market ETF tokenization solution jointly developed by HashKey Group, Asia's leading digital asset financial services group, and Bosera Asset Management (International) Co., Ltd. ("Bosera International") has been approved by the Hong Kong Securities and Futures Commission (SFC) and will be officially issued in April. This will become the world's first tokenized money market ETF, deeply combining traditional low-risk money market funds with blockchain technology, and opening up a round-the-clock stable interest-earning journey for investors on the chain.
As a member of the working group of the Hong Kong Monetary Authority (HKMA) Ensemble project, HashKey Group will continue to work with the HKMA and the SFC to support the development of Hong Kong’s tokenized ecosystem.
The tokenized shares to be issued this time are Bosera Hong Kong Dollar Money Market ETF Fund and Bosera US Dollar Money Market ETF Fund. Money market funds are known for their low risk and high liquidity, and are a powerful tool for cash management. Bosera International has successfully achieved a combination of traditional robustness and on-chain flexibility through advanced blockchain technology, which not only retains the robustness of traditional money market funds, but also gives them the flexibility of digital assets. Compared with traditional money market funds, this product improves transparency and operational efficiency through blockchain technology. Investors can directly hold high-quality money market instruments through tokens to meet their asset allocation and risk management needs. Whether it is DeFi investors seeking a balance of returns or virtual asset investors fighting market fluctuations in stages, Bosera tokenized money market funds will become a "return stabilizer" for on-chain investors.
Through the collaborative operation of the entire Web3 ecosystem, HashKey Group provides a comprehensive tokenization solution and full-link technical support for the product, ensuring seamless integration from technology to operations. In the process of product tokenization, HashKey Tokenisation provides the product with full-process design and execution of tokenization issuance; the product is subsequently deployed in financial institutions and HashKey Chain, the preferred public chain for RWA assets, and relies on HashKey's NexaToken service to achieve on-chain asset security management. Subsequently, HashKey Exchange, the largest licensed virtual asset trading platform in Hong Kong, will serve as the main distribution channel, and will provide distribution and custody services through the upcoming financial management channel.
CMB Wing Lung Trust Co., Ltd. and BOC International Prudential Trustee Co., Ltd. serve as the custodian and administrator of the Bosera Hong Kong Dollar Money Market ETF Fund and the Bosera U.S. Dollar Money Market ETF Fund respectively, providing administrative management for the funds, including fund transfer registration, accounting valuation and other services, providing indispensable and important support for the issuance of tokenized shares of the products.
"The use of blockchain technology to put money market ETFs on the chain is a key step for traditional finance to embrace Web3," said Dr. Xiao Feng, Chairman and CEO of HashKey Group. "As an important bridge connecting traditional finance and crypto finance, HashKey Group has established a complete Web3 financial infrastructure. Under the current market trend of compliance, we expect more traditional financial institutions to actively enter the crypto finance field through innovative tokenized products. This will not only promote the development of the crypto financial market, but also promote the integration of blockchain technology with the mainstream financial system, creating lasting investment value for institutional and individual investors."
As an investment value discoverer, Bosera International has always been committed to providing professional and comprehensive asset management services to various institutions and individual investors at home and abroad. Using financial innovation to promote financial inclusion and using financial technology to empower investor services is one of Bosera International's important strategies. Ms. Lian Shaodong, Chairman and CEO of Bosera International, MH said: "This issuance is another masterpiece of ours in the Web3 field after the virtual asset spot ETF. We hope to create value for investors. As a leading asset management institution in Hong Kong, we attach great importance to innovation in the financial field and continue to explore changes in business models with technological progress. We also pay close attention to the investment preferences and demands of on-chain investors and Generation Z investors. In the future, we will further summarize the experience of this project, apply blockchain technology to more products, and provide investors with more investment options and a better investment experience."
Mr. Luo Lihua, CEO of BOCI Prudential Trustee, said: "BOCI Prudential Trustee, as a leading tokenized fund custodian, relies on blockchain technology to assist transfer registration services and promote the industry into a new era of digitalization. As the digital asset ecosystem matures, we will focus on providing efficient settlement services, create a more transparent, fast and convenient service experience for investors, and lead the value upgrade of the fund administration service industry."
About HashKey Group
HashKey Group is Asia's leading digital asset financial services group with a global presence.
Since 2018, HashKey Group has built a global Web3 ecosystem in Hong Kong, Singapore, Japan, Bermuda and other places within a high compliance standard regulatory framework, including: HashKey Exchange, Hong Kong's largest licensed virtual asset exchange, HashKey Global, a virtual asset exchange, HashKey Capital, a global asset management institution focusing on investing in blockchain technology and digital assets, HashKey OTC, a provider of compliant digital asset over-the-counter trading services, HashKey Cloud, a world-leading Web3 infrastructure provider, and HashKey Tokenisation, a tokenization service agency. HashKey Group also has a rich on-chain ecosystem, has developed Ethereum L2 HashKey Chain, and launched HashKey ecological currency HSK.
HashKey Group will continue to promote the feasibility of large-scale application of blockchain technology in multiple fields and provide trustworthy and accessible digital asset services to one billion users around the world.
Note : As of January 15, 2025, it ranks 7th in the Coingecko global exchange rankings and is the highest-ranked licensed virtual asset exchange in Hong Kong.
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About Boshi International
Bosera International is one of the first Chinese fund companies to conduct asset management business in Hong Kong. Since its establishment, Bosera International has seized the opportunity of global asset allocation, adhered to the concept of value investment, formed a comprehensive product line with stable fixed income investment as the main focus, covering active equity, passive index, etc., and actively established partnerships with other international companies to provide two-way and cross-border asset management services to global investors. Bosera International serves customers in core financial regions such as the United States, Europe, South Korea, Singapore, and Hong Kong, China. After 15 years of hard work in Hong Kong, Bosera International has become one of the largest Chinese asset management companies in Hong Kong.
About CMB Wing Lung Trustee Limited ("CMB Wing Lung Trustee")
CMB Wing Lung Trust is a wholly-owned subsidiary of CMB Wing Lung Bank. CMB Wing Lung Bank is a licensed bank registered in Hong Kong. Formerly known as Wing Lung Bank, it means "forever prosperous". It was established in Hong Kong on February 25, 1933 and is one of the oldest Chinese banks in Hong Kong. It was successfully acquired by CMB Bank in 2008, officially became a wholly-owned subsidiary of CMB Bank in 2009, and officially changed its name to CMB Wing Lung Bank in 2018. CMB Wing Lung Bank and its subsidiaries hold banking, insurance, securities, trust, and asset management licenses, adhere to customer-centricity, provide diversified products and services, and have influence and competitiveness in the market.
CMB Wing Lung Trust was granted a Type 13 regulated activity license (providing custody services for relevant collective investment schemes) by the Hong Kong Securities and Futures Commission in 2024. Among the wholly-owned subsidiaries of joint-stock banks in mainland China and Hong Kong, CMB Wing Lung Trust is the only institution that has obtained this license and can provide professional services such as asset custody, fund administration, transfer agency, etc. for Hong Kong public funds, Hong Kong private funds, Cayman private funds, asset management accounts and various cross-border products.
About BOCI-Prudential Trustee
BOC-Prudential Trust has more than 20 years of trust management experience, mainly providing trust and administration, custody, transfer agency and registration services for funds and retirement protection plans. As of the end of December 2024, BOC-Prudential Trust, as the trustee and custodian of Hong Kong's mainstream retirement fund plans, manages MPF assets of more than HK$95 billion and has approximately 900,000 MPF accounts under the plan.
In the third quarter of 2024, the Hong Kong Monetary Authority and the industry jointly launched the "Project Ensemble" sandbox test to explore the interoperability of virtual assets such as tokenized mutual funds between banks through wCBDC. BOC-Prudential Trust deeply participated in the design and construction of asset tokenization technology, successfully tokenized money funds as a fund transfer registrar and administrative manager, and verified the full process of fund tokenization, demonstrating the standardization capabilities of digital asset securities services. This sandbox cooperation not only consolidates BOC-Prudential's industry-leading advantages in serving customers such as fund companies, securities companies and asset management institutions, but also drives us to expand the boundaries of our services - in the future, it will cover diversified digital assets such as stablecoins, and extend to other broader institutional investors, and continue to meet market innovation needs.
