Taiwan Life Asset Management Hong Kong launched a tokenized US dollar money market fund, with a subscription scale of 100 million US dollars on the first day

ChainCatcher news, reported by Invest360, China Pacific Insurance Investment Management (Hong Kong) Co., Ltd. has launched a tokenized US dollar money market fund "CPIC Estable MMF". This fund is a tokenized US dollar money market private fund under the open-ended fund company framework regulated by the Hong Kong Securities and Futures Commission, achieving product tokenization on the public chain, with a subscription scale of 100 million US dollars on the first day.

The fund is initiated and managed by China Pacific Insurance Investment Management (Hong Kong) Co., Ltd., with thePAC as the token issuance platform, and Standard Chartered Bank providing custody, registration, and fund administration services. The fund will invest in short-term deposits and high-quality money market instruments denominated in US dollars, and is open only to professional investors.

The CEO of China Pacific Asset Management Hong Kong stated that the issuance of the tokenized US dollar money market fund is a milestone for the company in the direction of combining traditional finance with blockchain technology, and in the future, more traditional assets will be tokenized using real-world asset technology.