The Huaxia Hong Kong Dollar Digital Currency Fund is issued on the Ethereum public chain, with an initial scale of approximately 107 million USD

ChainCatcher news, according to Caixin reports, the Huaxia Hong Kong Dollar Digital Currency Fund has chosen to issue on the Ethereum public chain, with an initial scale of approximately 107 million USD. According to reports, this fund is the first tokenized money market fund aimed at retail investors in the Asia-Pacific region.

Currently, the fund is only open for primary market subscriptions and redemptions, and secondary market trading has not yet been realized. In the future, it will strictly adhere to the guidelines of the Hong Kong Securities and Futures Commission and will work with licensed virtual asset exchanges in Hong Kong to jointly explore the development of secondary market products.

Huaxia stated that tokenization could provide more income-generating tools for the on-chain ecosystem, and in the future, it hopes to attract stablecoin holders to invest, and will explore the tokenization of money market funds in different currencies, including the Renminbi money market fund.

The underlying assets of the fund are the same as those of traditional money market funds, with no less than 70% of the net asset value invested in financial instruments such as short-term deposits and bonds denominated and settled in Hong Kong dollars.