On July 17th, ChinaAMC (Hong Kong) announced the launch of its second batch of tokenized funds, namely the ChinaAMC US Dollar Digital Currency Fund and the ChinaAMC RMB Digital Currency Fund. Together with the Hong Kong Dollar Digital Currency Fund approved in February this year, they have formed a complete series of tokenized money funds. Among them, the ChinaAMC RMB Digital Currency Fund is the world’s first tokenized fund denominated in RMB.
It is understood that this series of funds innovatively adopts a dual-track distribution model of “traditional + digital”. Investors can trade through traditional channels such as banks and securities firms, as well as through the Hong Kong licensed virtual asset trading platform (VATPs).
Market research shows that tokenized money funds are becoming an important entry point for institutions to layout digital assets. It is expected that the scale of global tokenized money funds will exceed 400 billion US dollars by 2030.
The world’s first RMB tokenized fund has been launched
Today, ChinaAMC (Hong Kong) announced the launch of its second batch of tokenized funds, namely the ChinaAMC US Dollar Digital Currency Fund and the ChinaAMC RMB Digital Currency Fund. Among them, the ChinaAMC RMB Digital Currency Fund is the world’s first tokenized fund denominated in RMB.
The reporter of “Everyday Economic News” saw from the fund materials that the Huaxia Digital Currency Fund Series aims to achieve its goals by investing in short-term deposits and high-quality money market instruments, in order to obtain long-term returns of currency in line with the current money market interest rates. The underlying assets of the fund are also traditional securities such as bonds and money market instruments.
However, compared with traditional funds, tokenized funds have several notable characteristics. Firstly, in terms of ownership, traditional funds are centrally recorded by fund managers, with investors holding fund units. In contrast, tokenized funds exist in the form of blockchain digital tokens, which can be verified in real time on the chain. In terms of transparency, all transactions and holdings of tokenized funds are permanently recorded on the chain, ensuring high transparency. In terms of accessibility, in addition to traditional channels such as banks and securities firms, tokenized funds have added a compliant virtual asset trading platform, making subscription and redemption more flexible. In terms of infrastructure, traditional funds rely on a centralized system composed of banks, securities firms, custodians and registration institutions for operation, while tokenized funds operate based on blockchain technology, reducing intermediate links and thereby helping to improve efficiency.
In terms of subscription and redemption, this series of funds can be subscribed and redeemed not only through traditional qualified securities firms and banks, but also through virtual asset trading platforms (VATPs).
Take a certain foreign securities firm as an example. After investors select “Buy” on the relevant fund page, the institution will produce the corresponding token and hold it on the blockchain. If purchased before 11:00 on T day, the share can be confirmed on T+0, and the profit on T+1 is visible. Redemption occurs at 11:00 on T day and the funds will be credited to the distributor’s account no later than T+1. Therefore, it has certain advantages in terms of transparency and transaction frequency.
