Standard Chartered Bank (Hong Kong) Limited today announced that it is supporting China Asset Management (Hong Kong) Limited (“ChinaAMC (HK)”) to launch the first tokenised retail money market fund in Asia Pacific tentatively by the end of February as its digital asset service provider.

Standard Chartered Trustee (Hong Kong) Limited will be acting as the Open-Ended Fund Company custodian for the fund.

Capitalising on the advanced technology of Libeara, an SC Ventures incubated tokenisation platform, Standard Chartered collaborates with ChinaAMC (HK) to build an ecosystem for its tokenised money market fund, with a comprehensive suite of securities services and technology solutions to enable tokenisation of the fund, fiduciary, fund administration, custody and cash services.

Mary Huen, CEO, Hong Kong and Greater China & North Asia, Standard Chartered, said:

“We are pleased to strategically combine our strengths in traditional custody services and innovative fintech capabilities to support ChinaAMC (HK) in launching the first tokenised retail money market fund in Asia Pacific in the near future, marking another milestone in the development of Hong Kong as a global digital assets hub. Standard Chartered believes that digital assets are fundamentally transforming the ecosystem of the financial markets. We are dedicated to meeting our clients’ needs in seizing the current huge opportunities.”

Tian Gan, CEO of ChinaAMC (HK), said:

“We are delighted to collaborate with Standard Chartered on this significant product launch. Standard Chartered’s dedication to innovation and advancement in the realm of Web 3.0 aligns seamlessly with the strategic vision of China Asset Management (Hong Kong). Leveraging Standard Chartered’s cutting-edge custody services and groundbreaking tokenisation platform, we have successfully facilitated the efficient issuance of this tokenised money fund. Through this partnership, we aspire to assist Hong Kong in establishing a hub for digital finance, while simultaneously providing technologically-enabled innovative financial products to investors.”

Margaret Harwood-Jones, Global Head of Financing & Securities Services, Standard Chartered, said:

“This is another testimony of how our award-winning custody and fund administration services enable clients to unlock rising new opportunities. And this is just the beginning of an important journey. With our digital asset custody services already launched in the UAE in the Middle East and Luxembourg in Europe, we are keen to support more institutional clients worldwide to access the fast-growing digital asset ecosystem.”

ChinaAMC (HK) is one of the first mainland Chinese fund management companies licensed to conduct asset management business in Hong Kong and one of the first Renminbi Qualified Foreign Institutional Investor fund managers.