HK gets world-first secondary tokenised funds trading
The Securities and Futures Commission has approved the world's first secondary trading of tokenised public funds on its licensed virtual asset trading platform (VATP), with around-the-clock trading of two tokenised money market funds beginning on Monday. The approval builds on a new regulatory framework it introduced in April, which sets out requirements for secondary trading of tokenised funds…
The Securities and Futures Commission in Hong Kong has approved the trading of tokenized public funds on its licensed virtual asset trading platform for the first time. Starting Monday, investors will be able to trade two tokenized money market funds 24/7 through the platform. This development is part of a new regulatory framework introduced by the SFC in April, which outlines requirements for secondary trading of tokenized funds on licensed virtual asset trading platforms.
The framework covers trading channels, fair pricing, liquidity provision, and disclosure. The approved tokenized money market funds are now available for secondary trading around the clock. The SFC sees this move as a significant milestone in Hong Kong's digital asset development, adding 24/7 trading capability to the city's evolving tokenization ecosystem.
The regulator will closely monitor trading activities and may expand the product scope in the future, considering market developments and the experience gained.
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