CMB International Shatters Tradition: USD Money Market Fund Goes Fully Tokenized On-Chain
Wall Street's old guard just got a blockchain-powered wake-up call.
CMB International—China Merchants Bank's offshore investment arm—has launched the first institutional-grade USD money market fund as a fully tokenized on-chain product. No paper, no intermediaries, just programmable yield.
Why This Breaks the Mold
Traditional money market funds still rely on legacy settlement systems that take days. CMB's move cuts that to seconds—while giving investors 24/7 visibility into holdings. The kicker? It runs on a permissioned blockchain, dodging the regulatory circus haunting public chains.
The Institutional On-Ramp
This isn't some DeFi experiment. We're talking about a regulated financial product from a $1T+ asset manager, now wrapped in blockchain efficiency. Expect more Asian institutions to follow suit—especially with Hong Kong's crypto licensing regime maturing.
The Ironic Twist
Funny how banks spent years badmouthing crypto, only to realize blockchain works best when they control the ledger. Maybe next they'll tokenize their hypocrisy.
Major tokenized money market funds now on Solana
The launch of CMBI’s USD Money Market Fund on Solana follows a major move earlier this year, when Franklin Templeton brought its OnChain U.S. Government Money Fund (FOBXX) to the network. FOBXX, initially launched on Stellar, now spans Aptos, Ethereum, Avalanche, Arbitrum, Base, Polygon — and, as of this year, Solana.
BlackRock’s BUIDL also expanded to Solana in March this year, joining its existing presence on Ethereum, Aptos, Arbitrum, Optimism, Avalanche, and Polygon. Managed in partnership with tokenization platform Securitize, BUIDL has grown into the world’s largest tokenized treasury product, surpassing $1.7 billion in market cap.
CMBI’s debut adds a new dimension: it’s the first publicly offered fund on Solana recognized by regulators in both Hong Kong and Singapore, giving the network a foothold in Asia-Pacific’s regulated asset markets.
