CPIC Investment Management (Hong Kong) (CPICIMHK), a subsidiary of China Pacific Insurance Group (CPIC), has recently introduced the CPIC Estable MMF, which is the first tokenized USD money market fund under Hong Kong’s Securities and Futures Commission (SFC) regulated fund structure framework.
CPICIMHK is regulated by various entities under the laws of Hong Kong and holds licenses for asset management, dealing in securities, and providing advisory services. It is jointly owned by China Pacific Insurance Group and its subsidiary Pacific Asset Management.
The launch of CPIC Estable MMF signifies a significant milestone in the integration of blockchain technology into traditional finance (TradFi). This initiative aims to offer professional investors access to stable, yield-generating assets in a fully compliant manner.
The CPIC Estable MMF operates as a private fund that digitizes fund shares on the blockchain, enabling transparent transactions and ownership tracking. The fund saw an impressive initial subscription volume of $100 million on its first day on the HashKey Chain, indicating strong market demand and confidence in tokenized finance.
According to CPICIMHK, the launch of CPIC Estable MMF represents more than just a pioneering fund; it signifies a shift in the institutional investment market driven by advancements in the digital age. As regulatory clarity increases and demand for compliant tokenized assets grows, CPICIMHK is committed to leading the transformation of traditional finance with blockchain-powered solutions.
CPICIMHK has disclosed its partners for CPIC Estable MMF, with PAC powering the tokenization infrastructure and Standard Chartered Bank providing custody, fund administration, and registrar services. These partnerships ensure that the fund meets institutional and regulatory standards.
The fund focuses on USD-denominated short-term deposits and high-quality money market instruments to provide stable and low-risk investment opportunities. By leveraging blockchain technology, CPIC Estable MMF aims to enhance efficiency, transparency, and accessibility in money market fund investments, paving the way for institutional adoption of tokenized assets.
CG Zhou, CEO of CPICIMHK, emphasizes that the merger of blockchain and traditional finance is not merely a trend but a definite path forward. The launch of CPIC Estable MMF marks a significant milestone in this journey, unlocking new opportunities for institutional investors and fueling the growth of a more robust Web3 financial ecosystem.
This initiative builds on CPICIMHK’s previous collaborations in the blockchain space, such as its partnership with AMINA Group to provide integrated investment advisory and banking services for the Pacific Waterdrip Digital Asset Funds. The SFC’s recent launch of the ASPIRe roadmap further supports the growth and innovation of Hong Kong’s virtual asset market.
In conclusion, CPIC Investment Management’s launch of Hong Kong’s first tokenized USD money market fund underscores its commitment to driving innovation and transformation in the financial industry through blockchain-powered solutions.