CMB International USD Money Market Fund Launches as a Tokenized Product On-Chain
CMB International Asset Management and Digift have introduced the CMB International USD Money Market Fund as a tokenized product, marking a significant milestone in the financial industry. This innovative fund is now available on Solana, Ethereum, Arbitrum, and Plume, offering investors a unique opportunity to access a money market fund with real-time liquidity.
The fund, which has been recognized by regulatory authorities in both Hong Kong and Singapore, is exclusively available to accredited investors in Singapore via the Digift platform. According to Bloomberg, the fund ranks first in the Asian-Pacific region, demonstrating its potential for growth and stability.
Key Features of the Tokenized Fund
The CMB International USD Money Market Fund offers several key features that set it apart from traditional money market funds. These include:
- Multi-chain support: The fund operates on Solana, Ethereum, Arbitrum, and Plume, providing investors with flexibility and interoperability.
- Real-time liquidity: The fund’s proprietary liquidity management smart contracts, developed by Digift, enable instant redemption and subscription, allowing investors to convert their tokenized fund units into cash or stable coins quickly.
- On-chain emission and distribution: Digift handles the on-chain emission and distribution of the tokenized fund, while CMB International Asset Management manages the underlying fund.
The introduction of the CMB International USD Money Market Fund follows other significant developments in the tokenized money market fund space. Earlier this year, Franklin Templeton launched its Onchain US Government Money Fund (FOBXX) on Solana, and BlackRock’s Buidl expanded to Solana in March, competing with Ethereum, Aptos, Arbitrum, Optimism, Avalon, and Polygon.
Implications for the Financial Industry
The launch of the CMB International USD Money Market Fund as a tokenized product on-chain marks a new era in the financial industry. It demonstrates the growing adoption of blockchain technology and the increasing demand for tokenized assets. As the financial industry continues to evolve, it is likely that we will see more innovative products and services emerge, providing investors with new opportunities for growth and diversification.
For more information on the CMB International USD Money Market Fund and its launch as a tokenized product on-chain, please visit https://crypto.news/cmb-international-usd-money-market-fund-launches-as-a-tokenized-product-on-chain/
