The first retail tokenized money market fund in the Asia Pacific region has launched Ethereum, with an initial size of approximately $107 million

According to BlockBeats, on March 2nd, Huaxia Fund (Hong Kong) launched the "Huaxia Hong Kong Dollar Digital Currency Fund" on February 28th, 2025. The minimum subscription amounts for different currency shares are HKD 10, RMB 10, and USD 1. This fund has become the first tokenized money market fund in the Asia Pacific region aimed at retail investors. This fund is based on the Ethereum network and currently only allows for redemption in the primary market. It has not yet been able to achieve secondary market trading. In the future, it will strictly comply with the guidelines of the Hong Kong Securities and Futures Commission and actively work with licensed virtual asset exchanges in Hong Kong to explore the next steps in developing secondary market products. Huaxia stated that tokenization can provide more interest generating tools for the on chain ecosystem. In the future, it hopes to see stablecoin holders invest and explore tokenization of different currency market funds, including RMB currency market fund tokenization. According to the product information summary, no less than 70% of the net asset value will be invested in short-term deposits denominated and settled in Hong Kong dollars, fixed income and bonds, government bonds, certificates of deposit, commercial paper, fixed and floating rate short-term bills, bank acceptance bills, and other securities allowed by the Hong Kong Securities and Futures Commission's Code of Conduct for Unit Trusts and Mutual Funds.