Asia Pacific's First Retail Tokenized Currency Market Fund Goes Live on Ethereum with an Initial Size of Approximately $107 Million

On February 28, 2025, Huaxia Fund (Hong Kong) launched the "Huaxia Hong Kong Dollar Digital Currency Fund" on March 2nd. The minimum subscription amount is 10 Hong Kong dollars, 10 yuan RMB, and 1 US dollar based on different currency shares. This fund has become the first tokenized currency market fund in the Asia-Pacific region aimed at retail investors. The fund is based on the Ethereum network and is currently only open for primary market subscription and redemption and has not yet achieved secondary market trading. In the future, it will strictly comply with the guidance of the Hong Kong Securities and Futures Commission and actively cooperate with licensed virtual asset exchanges in Hong Kong to research and develop secondary market products. Huaxia stated that tokenization can provide more interest-bearing tools for the on-chain ecosystem. In the future, they hope to see stablecoin holders make investments and will explore the tokenization of currency market funds in different currencies, including RMB currency market fund tokenization. According to the product summary, no less than 70% of the net asset value will be invested in short-term deposits, fixed income and bonds, government bonds, deposit certificates, commercial papers, fixed and floating rate short-term notes, bank acceptance bills denominated and settled in Hong Kong dollars, and other securities permitted by the Securities and Futures Commission's "UT Code".