GuShiio.com According to Caixin, the Huaxia Hong Kong dollar digital currency fund, which claims to be the first tokenized money market fund for retail investors in the Asia-Pacific region, chose the Ethereum public chain issuance; the initial scale is approximately US$107 million; currently, only the primary market is open. Redemption, secondary market transactions have not yet been achieved. In the future, we will strictly abide by the guidelines of the Hong Kong Securities Regulatory Commission and actively study the next step in the development of secondary market products with the Hong Kong licensed virtual asset exchange. Huaxia said that after tokenization, it can provide more interest-earning tools for the chain ecosystem. In the future, it hopes to see stablecoin holders investing and will explore tokenization of money market funds in different currencies, including RMB money market funds. Tokenization. Investors subscribe for token shares of the fund, and the underlying assets of the fund are no different from traditional money market funds. According to the product information summary disclosure, no less than 70% of the net asset value will be invested in short-term deposits denominated and settled in Hong Kong dollars, fixed income and bonds, government bonds, certificates of deposit, commercial paper, fixed and floating rate short-term notes, bank acceptance notes, etc., as well as other securities permitted by the Hong Kong Securities and Futures Commission’s Code on Unit Trusts and Mutual Funds.
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