BlackRock Wins Hong Kong Approval for Tokenised HKD Money Market Fund

BlackRock has received regulatory approval for the BlackRock HKD Digital Liquidity Fund, marking the firm's first tokenized offering in the Asia-Pacific region. This Hong Kong-domiciled money market fund is designed to bridge traditional financial channels with blockchain infrastructure, offering a constant net asset value (CNAV) to both institutional and retail investors. The fund invests in high-quality, short-term Hong Kong dollar instruments, including government bills and deposits, to provide liquidity and stability. A key feature is its support for subscriptions and redemptions via both fiat and digital cash, including tokenized deposits and the HKDAP stablecoin. Standard Chartered will serve as the custodian, fund administrator, and trustee, while also acting as the bank distributor for HKDAP. This launch builds upon BlackRock’s participation in the Hong Kong Monetary Authority’s Project Ensemble, which aims to foster a robust local tokenization ecosystem. By integrating on-chain capabilities into a regulated money market product, BlackRock is expanding its global tokenization strategy to meet growing demand for digital cash solutions in Asia. This development signifies a major step in connecting conventional cash management with digital financial infrastructure in a key global financial hub.