China’s CPIC Launches $100M Tokenized USD Money Market Fund on HashKey Chain

China Pacific Insurance (CPIC) Investment Management, a Hong Kong-based arm of one of China’s largest insurers, has launched a $100 million tokenized U.S. dollar money market fund, signaling growing momentum for asset tokenization in Asia. The eStable Money Market Fund debuted on HashKey Chain, a permissioned blockchain developed by HashKey Group for institutional users.

The fund, which is accessible exclusively to professional and institutional investors, invests in short-term, USD-denominated fixed income and money market instruments. CPIC’s PAC platform oversees the tokenization process, while Standard Chartered Bank handles registration and fund administration.

Tokenization of real-world assets (RWAs) is accelerating globally, with asset managers leveraging blockchain to boost operational efficiency, enable real-time settlements, and streamline financial transactions. By bringing traditional assets like government bonds and credit products onto blockchain rails, institutions are redefining financial infrastructure.

Major U.S. firms such as Franklin Templeton, BlackRock, and Fidelity Investments are also pushing into the blockchain-based money market space. Franklin Templeton and BlackRock have launched tokenized U.S. Treasury funds, while Fidelity recently filed for approval to launch a blockchain-based fund on Ethereum.

According to rwa.xyz, the tokenized RWA market has surged by nearly 500% over the past year, reaching a value of approximately $4.8 billion.

HashKey Group CEO Dr. Xiao Feng noted, “Finance is the flow of value across time and space—blockchain is the new infrastructure enabling this.” CG Zhou, CEO of CPIC Investment Management, emphasized the strategic importance of integrating traditional finance with Web3 through compliant, blockchain-based tokenization.

CPIC plans to expand its offerings by tokenizing additional traditional financial assets, reinforcing Asia’s growing role in the digital finance revolution.