Lucía Peña
Hong Kong-based CMB International Asset Management (CMBI), a subsidiary of China Merchants Bank (CMB), has tokenized its $3.8 billion USD Money Market Fund (MMF) on BNB Chain, the company announced Wednesday. This step enables investors to access the fund directly via blockchain, offering greater transparency and efficiency.
The launch follows CMBI’s previous partnership with Singapore-based tokenization platform DigiFT, which had already tokenized the same fund on Solana in August. The move comes amid reports that Chinese regulators have urged Hong Kong brokerages to pause real-world asset (RWA) projects.
Fund Overview
Launched in early 2024, the CMB International USD Money Market Fund is a sub-fund under the CMB International Open-ended Fund Company, a public umbrella fund based in Hong Kong.
The fund mainly invests in US dollar-denominated deposits and government-backed money market instruments across the US, Singapore, the European Union, mainland China, Hong Kong, Macau, and Taiwan.
According to Hong Kong Stock Exchange (HKEX) data, the fund has been growing steadily, with AUM rising 24% from $2.9 billion in April to $3.6 billion by August.
CMBMINT and CMBIMINT Tokens
The partnership with BNB Chain introduces two tokens, CMBMINT and CMBIMINT, allowing investors to access the fund via fiat currencies or stablecoins.
The launch also involves the RWA infrastructure provider OnChain, enabling token use across multiple DeFi applications, including lending and yield generation.
BNB Chain stated that this initiative gives accredited investors direct blockchain-based access to a top-performing fund with over $3.8 billion AUM.
Regulatory Considerations
Mainland China regulators have reportedly asked Hong Kong brokerages to halt RWA offerings, creating uncertainty around how the tokenized fund aligns with local regulations.
When approached for comment on these pressures, the Hong Kong Monetary Authority declined to respond.
