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China’s $400B Fund Launches First Yuan Token in De-Dollarization Push
China’s $400B Fund Launches First Yuan Token in De-Dollarization Push
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BTCCSquare news:
China Asset Management Hong Kong, a subsidiary of the nation's second-largest fund manager with over $400 billion in assets, has launched the world's first yuan-denominated tokenized money market fund. This marks a significant milestone in China's de-dollarization strategy, leveraging blockchain technology to create new digital yuan investment pathways.
The fund addresses the yield gap in stablecoin holdings while supporting 24/7 trading of yuan-based digital assets. Its launch coincides with Hong Kong's stablecoin ordinance, creating strategic alignment for yuan digitization. "This initiative bridges traditional finance with blockchain innovation," said Tian Gan, CEO of ChinaAMC Hong Kong.
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