HashKey and Bosera are launching tokenized cash market ETFs in Hong Kong, providing blockchain-based entry to steady money administration.
Cryptocurrency change HashKey, in collaboration with Chinese language asset supervisor Bosera, is ready to launch two tokenized cash market exchange-traded funds in Hong Kong in a bid to supply low-risk, liquid funding merchandise.
The ETFs, referred to as the Bosera HKD Cash Market ETF and the Bosera USD Cash Market ETF, are anticipated to supply buyers blockchain-based entry to low-risk, liquid funding merchandise, and have already been authorized by the Hong Kong Securities and Futures Fee, in keeping with a Mar. 28 press launch.
Compared to conventional cash market funds, HashKey says the product “greatly improves transparency and operational efficiency through blockchain technology, enabling investors to gain direct exposure to high-quality money market instruments by tokens, thereby fulfilling their asset allocation and risk management needs.”
“DeFi investors seeking to balance their yields or virtual asset investors looking to mitigate market risk can find a reliable solution in Bosera’s tokenised money market fund, serving as a ‘yield stabiliser’ for on-chain investors.”
HashKey
The funds purpose to supply buyers with a safe, steady possibility for money administration, usually seen in conventional cash market funds.
HashKey Trade, the licensed digital asset buying and selling platform in Hong Kong, will function the first distribution channel whereas additionally offering custody companies by its upcoming Earn Channel, the press launch reads.
Though the precise launch date hasn’t been confirmed, the ETFs are anticipated to be launched in April. In response to a press release from the businesses, the ETFs are a part of the Hong Kong Financial Authority’s Venture Ensemble Sandbox, which explores the tokenization of real-world property.
