#MoneyMarketFund
2 articles tagged #MoneyMarketFund — curated RWA tokenization coverage.
8.5
U.S. Treasuries
panewslab.com·Jun 27
Interview with CSOP CIO Wang Yi: Tokenization hinges on compliance framework, AI remains the main thrust of global capital
CSOP Asset Management, in collaboration with HSBC and OSL, launched Hong Kong's first tokenized HKD money market ETF in June 2024. This initiative marks a transition for the Hong Kong RWA market from theoretical proof-of-concept to a fully compliant, regulated implementation. By utilizing the Ethereum blockchain, CSOP aims to bridge the gap between traditional finance and the Web3 ecosystem, specifically addressing the yield mismatch between declining DeFi returns and stable cash assets. The project relies on a robust compliance framework where HSBC acts as the custodian and OSL serves as the licensed virtual asset trading platform. While the on-chain tokens currently serve as a record of ownership, final reconciliation remains tied to the custodian's traditional book-entry system to ensure regulatory safety. Wang Yi, Deputy CEO of CSOP, emphasized that the firm intends to expand tokenization to other asset classes, including commodities and gold, as the ecosystem matures. This development is significant as it demonstrates how major institutional players are leveraging Hong Kong's evolving regulatory environment to integrate traditional financial products into on-chain infrastructures.
7.5
U.S. Treasuries
Tokinvest to Distribute Franklin Templeton’s Tokenised Money Market Fund in the Middle East
Dubai-based tokenization platform Tokinvest has entered a strategic distribution agreement to offer Franklin Templeton’s OnChain U.S. Dollar Short-Term Money Market Fund to investors across the Middle East. This partnership leverages the Benji platform, which utilizes public blockchain networks to record ownership of fund shares, marking a significant expansion for institutional-grade tokenized assets in the region. Tokinvest, which holds issuance and broker-dealer licenses from the Virtual Assets Regulatory Authority, will manage investor onboarding and order execution. Connectivity infrastructure provider Synthesys Network facilitates the technical link between the fund and the regional platform. The Franklin Templeton fund, a sub-fund of a Singapore-domiciled variable capital company, invests in short-term, US dollar-denominated money market instruments. By integrating traditional financial products with blockchain infrastructure, this move highlights the growing demand for regulated, on-chain investment vehicles in Middle Eastern markets. This development underscores the broader trend of major global asset managers utilizing tokenization to streamline fund distribution and accessibility for international investors.