China’s Bank Just Tokenized $3.8B… But Why? 🤔

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A Hong Kong-based subsidiary of a major Chinese commercial bank, China Merchants Bank (CMB), has decided to turn its $3.8 billion money market fund into a digital relic, tokenizing it on BNB Chain. Because nothing says “financial innovation” like putting your savings on a blockchain that’s less stable than a teeter-totter in a hurricane 🌪️.

CMB International Asset Management (CMBI) has partnered with BNB Chain to launch its CMB International USD Money Market Fund onto the L1 blockchain. Because who doesn’t want their cash to be as accessible as a meme coin? 🚀

The partnership builds on CBMI’s real-world asset tokenization (RWA) cooperation with Singapore-based tokenization platform DigiFT, which previously tokenized the fund on Solana. Because why have one blockchain when you can have two? 🤯

The CMBI’s fund launch on BNB Chain came weeks after online reports suggested that China’s securities regulator had been pressuring local brokerages to pause their RWA projects in Hong Kong. Because regulators are just trying to keep up with the chaos, right? 🤷‍♂️

Quick fund overview

Launched in early 2024, the CMB International USD Money Market Fund is a sub-fund of the CMB International Open-ended Fund Company, which is a public umbrella open-ended fund company established in Hong Kong. Because nothing says “trustworthy” like a fund that’s basically a financial jigsaw puzzle 🧩.

The fund primarily invests in US dollar-denominated deposits as well as state-backed money market instruments in countries or regions, including the US, Singapore, the European Union, mainland China, Hong Kong, Macau and Taiwan. Because nothing says “global reach” like investing in every corner of the world… except maybe a few. 🌍

According to data from the Hong Kong Stock Exchange (HKEX), the fund has been steadily growing since its inception, with AUM adding 24% from $2.9 billion in April to $3.6 billion by August. Because who doesn’t want their money to grow faster than a toddler’s hair? 🧔‍♂️

CMBMINT and CMBIMINT tokens deployed on BNB Chain

CMBI Asset Management’s collaboration with BNB Chain marks a milestone in bringing RWAs to one of the most active blockchain ecosystems, BNB Chain said in the announcement. Because nothing says “milestone” like a fund that’s more volatile than a cryptocurrency trader’s mood. 💸

“By expanding onchain distribution, CMB International and BNB Chain are providing Accredited Investors with direct, blockchain-based access to a top-performing fund with over $3.8 billion AUM,” it added. Because who needs transparency when you can have a blockchain? 🧠

The collaboration brings two tokens, CMBMINT and CMBIMINT, onto the BNB blockchain, allowing investors to gain exposure to the fund using fiat currencies or stablecoins and redeem holdings via DigiFT. Because nothing says “investment” like a token that’s as stable as a jellyfish in a storm. 🐙

The launch also involves the RWA infrastructure provider OnChain, which enables investors to use the tokens across multiple decentralized finance (DeFi) applications, such as lending and yields. Because who doesn’t want their money to be as risky as a rollercoaster? 🎢

As mainland China regulators have reportedly asked Hong Kong brokerages to halt RWA offerings, it appears to be unclear whether the tokenized CMBI fund aligns with the local regulatory ecosystem. Because nothing says “clarity” like a regulatory environment that’s as confusing as a riddle wrapped in an enigma. 🧩

Approached by CryptoMoon to comment on the reported pressure from mainland China regulators, the Hong Kong Monetary Authority declined to comment. Because silence is the ultimate answer, right? 🤫

CryptoMoon approached BNB Chain for comment regarding the issue, but had not received a response by publication. Because sometimes even blockchains are too busy to answer questions. 🌐

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2025-10-15 14:47