Futu and China Asset Management Hong Kong have reached a strategic cooperation on Web3.0 and will launch a series of tokenized money market fund products

PANews reported on July 22 that Futu Group announced that it has reached a long-term strategic cooperation on Web3.0 with China Asset Management (Hong Kong). The two parties will jointly promote the deep integration of traditional finance and blockchain technology.

As the exclusive technology broker, Futu will launch a series of tokenized money fund products of China Asset Management on its Futu NiuNiu App, covering the three major currencies of Hong Kong dollars, RMB and US dollars, and provide investors and cryptocurrency holders with compliant 7x24-hour flexible interest-bearing investment solutions through Futu's licensed virtual asset trading platform (VATP). In the future, the two parties will also explore the dual-track subscription and redemption mechanism of "on-chain" and "off-chain" as well as all-weather on-chain trading.

China Asset Management (Hong Kong) has previously launched the world's most comprehensive series of tokenized money market funds, including the first tokenized fund for retail investors in the Asia-Pacific region and the world's first RMB-denominated tokenized fund, and issued the first batch of virtual asset spot ETFs in Asia. Futu Group holds a number of virtual asset-related licenses and provides trading services including cryptocurrency spot, futures, and ETFs in multiple markets around the world.