A Hong Kong-based subsidiary of a major Chinese commercial bank, the China Merchants Bank (CMB), has token the $ 3.8 billion funding market (MMF) to the BNB chain.
CMB International Asset Management (CMBI) cooperated with the BNB chain to bring CMB International USD Money Market Fund to its Layer-1 (L1) BlockchainBNB chain announced On Wednesday.
The new collaboration builds up in the real world of Asset tokenization (RWA) cooperation of CBMI on the Singapore -based tokenization platform, which Tokenized The Solana Blockchain fund in August.
Launching CMBI funding in BNB chain arrives Sunday after online reports suggested That China’s security regulator forces local brokers to pause their RWA projects in Hong Kong.
Fast overall -fundamental fundamental
Launched in early 2024, the CMB International USD Money Market Fund is a sub-fund of the CMB International Open-end-ending Fund Company, which is a public umbrella open funding company established in Hong Kong.
Primary funding Investment In the US dollars deposits as well as currency market instruments supported by states in countries or regions including the US, Singapore, European Union, Mainland China, Hong Kong, Macau and Taiwan.
According to According to data from the Hong Kong Stock Exchange (HKEX), the fund has continued to grow since it began, with Aum increasing 24% from $ 2.9 billion in April to $ 3.6 billion in August.
CMBMINT and CMBIMINT tokens are already deployed to BNB chain
CMBI Asset Management cooperation along with the BNB chain marks a milestone on bringing RWAs to one of the most active Blockchain ecosystems, the BNB chain said the announcement.
“By expanding the onchain distribution, the CMB International and BNB chain provides accredited investors directly, blockchain-based access to a leading fund with more than $ 3.8 billion Aum,” he added.
Collaboration carries two tokens, CMBMint and CMBimint, to BNB Blockchain, which allows investors to obtain funding exposure using fiat currencies or Stablecoins and redeem the handles by digift.
Launching also involves RWA Infrastructure Provider Onchain, which gives investors to use tokens in many Decentralized Finance (DEFI) Applications, such as lending and Ani.
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As it has been reported that Mainland China Regulators have asked Hong Kong brokers to stop RWA offerings, it seems unclear whether the CMBI’s tokenized funding is aligned with the local regulatory ecosystem.
Cointelegraph approached to comment on the reported pressure from the mainland China regulators, the Hong Kong Monetary Authority refused to comment.
Cointelegraph approached the BNB chain for a comment on the issue, but did not receive a response by publishing.
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