UK-based Standard Chartered will support China Asset Management's launch of the first tokenized retail money market fund in Asia Pacific.
Standard Chartered will act as the digital asset service provider for China Asset Management (Hong Kong) to launch the first tokenized retail money market fund in Asia Pacific tentatively by the end of February, according to a statement.
Through Libeara, a tokenization platform incubated by its innovation unit SC Ventures, the bank will build an ecosystem with a comprehensive suite of securities services and technology solutions to enable tokenization of the fund, fiduciary, fund administration, custody and cash services.
Digital Asset Ecosystem
Moving forward, Standard Chartered is looking to support more institutional clients globally to access its digital asset ecosystem. In digital asset custody, for example, the bank has already launched services in the UAE and Luxembourg.
«Standard Chartered believes that digital assets are fundamentally transforming the ecosystem of the financial markets. We are dedicated to meeting our clients’ needs in seizing the current huge opportunities,» said Mary Huen, CEO, Hong Kong and Greater China & North Asia at the British lender.
