China Pacific Insurance (CPIC) Investment Management, a subsidiary based in Hong Kong of one of the largest Chinese insurance groups, has deployed a monetary market fund in token in token, because the tendency to the tokenization of assets extends to Asia.
The Estable Money Market Fund (MMF) was launched on the Hashkey channel, an authorized blockchain for institutional users developed by the Hashkey reference group, and obtained 100 million dollars on the first day, according to a press release on Monday.
The product is only accessible for professional and institutional investors and invests in fixed short -term income assets labeled in US dollars and monetary market instruments. The CAP serves as a tokenization emission platform for the fund, while Standard Chartred Bank provides registration and fund administration services.
Asset managers from around the world are increasingly putting traditional financial instruments such as state bonds, credit and blockchain rails, a process often called tokenization of real assets (RWAS). In doing so, they seek to make operational and efficiency gains and faster establishments.
American issuers like Franklin Templeton and Blackrock led tokenization efforts of the US Treasury titles as a blockchain -based installment to manage cash funds, similar to a monetary market fund. Last week, Fidelity Investments also asked for regulatory approval to enter the market with a fund built on the Ethereum network. It is a fast growing market: the total market value of the yield generation in some 500% in the past year at almost $ 4.8 billion, according to Rwa.xyz data.
“The essence of finance is the flow of value in time and space, and the blockchain is the new infrastructure of this process,” said Dr. Xiao Feng, president and chief executive officer of Hashkey Group.
“Integration into traditional finance is an important orientation for the future development of web3 and one of the directions with the greatest certainty,” said CG Zhou, CEO of CPIC Investment Management, in a press release, adding that the company will seek to tokensine more traditional assets using compliance blockchains.
