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The cryptocurrency exchange HashKey, together with the Chinese asset manager Bosera, is going to launch two tokenized money market exchange-traded funds in Hong Kong. The goal is to provide investors with low-risk, liquid investments.
Bosera HKD Money Market ETF and Bosera USD Money Market ETF received approval by the Hong Kong Securities and Futures Commission on March 28. They are meant to give investors blockchain-based access to low-risk, liquid investment products.
Bringing Blockchain to Traditional Funds
This innovation, according to HashKey, “greatly improves transparency and operational efficiency through blockchain technology,” offering an advantage over traditional money market funds. By tokens, it allows investors to have direct access to premium money market instruments, helping meet their asset allocation and risk management requirements.
With this approach, “Bosera’s tokenized money market fund is a reliable option for DeFi investors seeking balanced yields and virtual asset investors looking to mitigate market risk. It acts as a ‘yield stabilizer’ for on-chain investors.” HashKey.
Now with the launch coming up soon, the funds want to give investors a safe and stable way to handle their money, similar to that of traditional money market funds.
According to the report, HashKey Exchange, which is a licensed virtual asset trading platform in Hong Kong, will be the primary distribution channel and also offer custody services through its upcoming Earn Channel.
The ETFs are expected to launch in April, though the exact date is yet to be confirmed. The companies said in a statement that the ETFs are part of the Hong Kong Monetary Authority’s Project Ensemble Sandbox, which explores how real-world assets can be tokenized.
This project can explore new ways to bring real-world investments into the digital space. Similarly, HashKey and Bosera’s tokenized ETFs can also prove to be an important step in connecting blockchain technology with traditional finance.
