China Asset Management (Hong Kong) (ChinaAMC (HK)) is set to launch what is being described as the first tokenised retail money market fund in the Asia Pacific region by the end of this month. Standard Chartered’s Hong Kong branch will provide digital asset services for the fund, while Standard Chartered Trustee (Hong Kong) will act as custodian, reports National Technology News.
ChinaAMC (HK) will use Libeara, a tokenisation platform developed by SC Ventures, Standard Chartered’s fintech investment arm. The platform provides technology and services for fund tokenisation, including fiduciary oversight, fund administration, custody, and cash services. ChinaAMC (HK) is one of the first mainland Chinese fund managers licensed to operate in Hong Kong. The launch aligns with broader efforts to integrate digital assets into traditional financial services, with Hong Kong positioning itself as a centre for such developments.
Growing digital asset strategy
Standard Chartered has been expanding its digital asset activities globally. The bank recently introduced digital asset custody services in the UAE and Luxembourg, with plans to support more institutional clients in this area.
In May 2024, its Hong Kong arm completed a pilot project testing cross-border transactions using tokenised carbon assets in partnership with Mastercard. The trial, conducted under the Hong Kong Monetary Authority’s Fintech Supervisory Sandbox, involved Mox Bank, a virtual bank backed by Standard Chartered, alongside Libeara.
