RWA News: China Pacific Insurance Launches $100M Tokenized Money Market Fund on HashKey Chain

China's CPIC Launches $100M Tokenized Fund With HashKey Amid RWA Trend Rising in Asia

Asset tokenization is a rapidly growing sector of cryptocurrency as asset managers around the world increasingly adopt blockchain technology for traditional instruments such as bonds and funds.

Christian Sandor | Edited by Steven Alpher Updated Mar 24, 2025 18:57 UTC Published Mar 24, 2025 18:46 UTC

What you need to know:

• China Pacific Insurance (CPIC) Investment Management has launched a tokenized US dollar money market fund on the HashKey Chain platform, raising $100 million in subscriptions.
• The fund, which invests in short-term US dollar fixed income assets and money market instruments, is available to professional and institutional investors.
• The move is in line with a growing trend of asset managers tokenising traditional financial instruments using blockchain technology to improve transaction efficiency and speed up settlements.

China Pacific Insurance (CPIC) Investment Management, a Hong Kong-based subsidiary of one of China's largest insurance groups, has launched a tokenized US dollar money market fund as the asset tokenization trend spreads across Asia.

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The eStable Money Market Fund (MMF) was built on HashKey Chain, a specialized institutional blockchain developed by HashKey, and attracted $100 million in subscriptions on its first day, according to a press release published on Monday.

The product is available exclusively to professional and institutional investors and invests in short-term USD-denominated fixed income assets and money market instruments. PAC acts as the token issuance platform for the fund, while Standard Chartered Bank provides the fund’s registration and management services.

Asset managers around the world are increasingly migrating traditional financial instruments such as government bonds, loans and funds to the blockchain, a process known as real-world asset tokenization (RWA). This allows them to achieve operational benefits and efficiency gains, as well as faster, round-the-clock settlement.

U.S. issuers like Franklin Templeton and BlackRock are leading initiatives to tokenize U.S. Treasury securities as a blockchain-based money-asset management vehicle similar to a money market fund. Fidelity Investments also filed for regulatory approval last week to enter the market with an Ethereum-based fund. It’s a fast-growing market, with the total market value of the yields up nearly 500% over the past year to nearly $4.8 billion, according to data from rwa.xyz.

“The essence of finance is the flow of value across time and space, and blockchain is a new infrastructure for this process,” said Dr. Xiao Feng, Chairman and CEO of HashKey Group.

“Integration with traditional finance is an important direction for the future development of Web3 and one of the areas where we can be most confident,” said CPIC Investment Management CEO C.G. Zhou, adding that the company will seek to tokenize more traditional assets using compliant blockchains.”

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