CMB International, a Hong Kong-based subsidiary of China Merchants Bank, has tokenized its $3.8 billion USD money market fund on BNB Chain, marking one of the largest integrations of traditional financial products with blockchain technology.
This initiative allows accredited investors to access regulated products globally with greater efficiency. The ‘CMB International USD Money Market Fund,’ launched in 2024, holds the top performance ranking among its Asia-Pacific peers, according to Bloomberg.
The fund primarily invests in short-term USD deposits and high-quality instruments issued by governments and other top-tier entities.
Investors can now subscribe to the fund using fiat currency or stablecoins through CMBMINT and CMBIMINT tokens deployed on BNB Chain. Redemptions are possible in real-time, facilitated by smart contracts developed by DigiFT.
Adam Bai, Director of CMB International Asset Management, attributed the fund’s growth to “exceptional performance, disciplined execution, prudent risk management, and investor confidence.”
Bai added that “by leveraging the robust infrastructure of BNB Chain and collaborators like DigiFT and OnChain, the entity can extend its money market strategies to a broader global investor base securely and under compliance.”
A representative from BNB Chain expressed enthusiasm for the development. They stated the move reinforces BNB Chain’s vision as “the tokenization layer for all assets.”
The tokenization expands access to regulated real-world assets (RWAs) and integrates these tokens into decentralized finance (DeFi) protocols. This allows for additional uses such as collateralized lending on platforms like Venus Protocol and ListaDAO.
BNB Chain’s scalability, low transaction costs, and expanding DeFi ecosystem make it an ideal foundation for institutional initiatives. Its ecosystem is closely linked to the Binance exchange.
The announcement comes as BNB, BNB Chain’s native token, trades near $1,190. The token recently saw a 30% gain over 30 days, hitting a recent high of $1,370.
This move by CMB International highlights a growing trend in Hong Kong finance. Banking institutions are increasingly integrating traditional assets with decentralized ecosystems, offering greater flexibility and supporting 24-hour trading of digital assets.
CMB International is also extending its tokenization efforts to multiple chains, including a recent deployment on Solana. This positions BNB Chain as a key bridge between conventional and decentralized financial worlds.