China’s second-biggest fund house just made history.
On Thursday, China Asset Management’s Hong Kong arm (ChinaAMC HK) launched the world’s first renminbi-denominated tokenised money fund. This new fund lets people invest in Chinese currency-based assets using blockchain.
The move comes as digital money heats up worldwide. Until now, most tokenised funds were only based on the U.S. dollar. But this one is different—it runs on the renminbi, also called the yuan.
Bringing Renminbi to Blockchain
ChinaAMC wants to ride the wave of stablecoins and tokenised finance. Its CEO Tian Gan said, “Our tokenised products are ready for stablecoins—be it Hong Kong dollars, U.S. dollars or renminbi.”
This launch is big news. It’s the first time investors can tap into renminbi-denominated tokenised money funds, giving them exposure to China’s digital assets.
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Hong Kong Steps Into the Game
This fund is also a sign that Hong Kong is pushing ahead in the crypto world. From August 1, the city’s new rules for stablecoins will take effect.
China’s big tech companies are also nudging the central bank to allow stablecoins linked to offshore yuan. They believe this could help promote renminbi globally and offer a serious challenge to the dollar’s digital dominance.
What Is Tokenisation Anyway?
Tokenisation means turning regular financial assets into digital tokens. These tokens can move quickly on the blockchain, cutting out middlemen and lowering costs.
With this, money can be transferred and settled faster. That means fewer delays and more efficiency for users and investors.
Not Just Renminbi—Dollar Too
ChinaAMC HK isn’t stopping with the yuan. They’ve also launched Asia’s first tokenised U.S. dollar money market fund, and earlier this year, a similar product based on the Hong Kong dollar.
They’re betting big on this trend. As more stablecoins, tokenised deposits, and central bank digital currencies (CBDCs) hit the market, they expect demand to rise fast.
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