29th October, 2026
By Anjali Kochhar
Hong Kong has taken a significant step toward integrating traditional finance with blockchain technology by introducing round-the-clock trading for retail tokenized money market funds. The initiative follows approval from the Securities and Futures Commission (SFC), marking a major development in the city’s regulated digital asset market.
The newly launched service allows investors to trade the ChinaAMC Digital Money Market Funds, denominated in Hong Kong dollars and US dollars, through PantherTrade, a licensed virtual asset trading platform owned by Nasdaq-listed Futu Holdings.
Unlike conventional investment funds, which operate within fixed subscription and redemption periods, the new arrangement enables investors to buy and sell eligible fund units 24 hours a day, including weekends and public holidays.
The ChinaAMC tokenized money market fund currently manages approximately $660 million in assets, with retail share classes accounting for around 16% of the total. However, only designated Class F shares are eligible for trading on PantherTrade.
Blockchain Technology Expands Investment Accessibility
The introduction of continuous trading represents an important shift in how traditional investment products can operate within digital financial markets.
Through secondary-market trading, investors can sell their holdings without waiting for the fund manager’s regular redemption schedule. However, transactions occur at market-determined prices, which may differ from the fund’s underlying net asset value.
Despite incorporating blockchain technology, the system maintains certain operational restrictions. Investors cannot withdraw their tokens from PantherTrade, while official ownership records remain maintained through the fund’s traditional off-chain register.
Consequently, trading operates within a controlled platform environment rather than allowing unrestricted blockchain transfers.
Hong Kong’s regulatory framework also includes safeguards designed to protect investors, including indicative asset valuations, pricing controls and mechanisms to manage excessive volatility.
Hong Kong Strengthens Its Digital Asset Ecosystem
The development builds on the SFC’s regulatory framework introduced in April 2026, which established guidelines for secondary trading of tokenized investment products.
Hong Kong has also been exploring the integration of tokenized deposits and regulated stablecoins into financial transactions.
ChinaAMC previously incorporated HSBC’s tokenized deposit capabilities into its fund operations and tested subscription and redemption processes involving a regulated Hong Kong dollar stablecoin developed through Standard Chartered’s Anchorpoint initiative.
These developments highlight efforts to improve settlement efficiency and strengthen connections between conventional financial infrastructure and blockchain-based systems.
Hong Kong’s licensing framework provides an additional advantage by permitting authorized virtual asset trading platforms to support both cryptocurrencies and tokenized securities.
The launch could encourage broader adoption of tokenized financial products while establishing a foundation for future expansion into additional asset classes.
Ultimately, the initiative demonstrates how regulated blockchain infrastructure can increase investment flexibility without abandoning established financial safeguards.
