Hong Kong's Securities and Futures Commission on Monday approved secondary trading of tokenised public funds, which the South China Morning Post describes as a world first, as the city pushes to become the region's main centre for tokenised finance.
Tokenised funds are investment funds whose units are issued as digital tokens on a blockchain. Investors can now trade two such funds, the ChinaAMC Digital Money Market Fund in its Hong Kong and US currency classes, on a virtual asset exchange licensed by the regulator.
Katie He, head of strategic business at China Asset Management (Hong Kong), said retail investors would benefit from being able to trade at any time, including at weekends and on public holidays, rather than only during normal market hours.
Source: South China Morning Post
