HashKey and Bosera are set to introduce tokenized money market ETFs in Hong Kong, providing blockchain-powered options for stable cash management.
The cryptocurrency exchange HashKey, in partnership with Chinese asset manager Bosera, is preparing to roll out two tokenized money market exchange-traded funds in Hong Kong. This initiative aims to deliver liquid, low-risk investment options to investors.
Named the Bosera HKD Money Market ETF and the Bosera USD Money Market ETF, these funds are poised to grant investors blockchain-based access to secure, liquid investment alternatives. Approval from the Hong Kong Securities and Futures Commission has already been obtained, as noted in a March 28 announcement.
In contrast to conventional money market funds, HashKey claims that this new product significantly enhances transparency and operational efficiency through blockchain technology. This advancement allows investors to access high-quality money market instruments through tokens, meeting their asset allocation and risk management objectives.
“Investors in decentralized finance looking to balance their returns, or virtual asset investors aiming to reduce market risk, will find a dependable option in Bosera’s tokenized money market fund, which acts as a ‘yield stabilizer’ for on-chain investors.”
HashKey
The goal of these funds is to offer investors a secure and stable cash management solution, akin to what is typically available in traditional money market funds.
HashKey Exchange, a licensed trading platform for virtual assets in Hong Kong, will be the primary avenue for distribution. It will also provide custody services via its forthcoming Earn Channel, as detailed in the announcement.
While the specific launch date has not yet been disclosed, the ETFs are anticipated to debut in April. According to a statement from the companies, these ETFs are part of the Hong Kong Monetary Authority’s Project Ensemble Sandbox, which investigates the tokenization of real-world assets.