This milestone marks a significant step in integrating blockchain with traditional finance, improving transparency and liquidity.
Hashkey Group and Bosera have secured approval from Hong Kong’s SFC to launch the world’s first tokenized money market ETF, a move that integrates blockchain with traditional finance, enhancing transparency and liquidity.
This integration is a testament to Hong Kong’s initiative in fostering a vibrant Web3 ecosystem, merging new technologies with existing financial frameworks.
Announced via Hashkey's X handle, the ETF is powered by Hashkey Chain and uses asset tokenization to optimize the liquidity and transparency of the investment vehicle, rendering it a more efficient and valuable offering.
"Bringing money market ETFs on-chain through blockchain technology is a crucial step for traditional finance to embrace Web3," said Dr. Xiao Feng, Chairman and CEO of Hashkey Group.
The first set of ETFs to be launched are the Bosera HKD Money Market ETF and the Bosera USD Money Market ETF. Operating as a compliance-first blockchain platform, Hashkey Chain provides the technical foundation for these new tokenized assets to be launched in a fully regulated manner.
"This issuance is our latest product in the Web 3.0 sector, after our Virtual Asset Spot ETF, and we hope to create value for investors," said Ms. Lian Shaodong, Chairman and CEO, Bosera Asset Management.
The administrators and custodians of the Money Market ETFs are CMB Wing Lung (Trustee) Limited and BOCI-Prudential Trustee Limited, offering fund administration services, which are integral to successfully issuing tokenized shares of the products.
This launch signifies the increasing acceptance of blockchain integration within traditional finance, setting a precedent for future tokenized financial products to be rolled out seamlessly. By merging digital and conventional asset management, Hashkey and Bosera are spearheading financial innovation within Hong Kong's burgeoning crypto industry.
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