China Launches First-Ever Renminbi Token Fund in Historic Crypto Market Move

China Asset Management's Hong Kong arm has unveiled the world's first renminbi-denominated tokenized money market fund, marking a watershed moment for digital asset innovation. The fund represents Beijing's most significant foray into crypto-adjacent financial products to date.

Simultaneously, the firm launched a dollar-denominated tokenized fund - the first of its kind in Asia - building on its February release of a Hong Kong dollar product. These developments signal China's strategic pivot toward blockchain-based financial infrastructure despite its domestic crypto trading ban.

The tokenization technology converts traditional assets into blockchain-based digital tokens, offering investors new exposure to Chinese currency markets. This breakthrough comes as global institutions increasingly explore tokenized real-world assets, with BlackRock's recent USD BUIDL fund surpassing $500 million in assets.