365Crypto
China’s Banking Giant Goes On-Chain
China Merchants Bank International (CMBI) has officially tokenized its $3.8 billion USD Money Market Fund on the BNB Chain. The move strengthens Hong Kong’s position as a bridge between traditional finance and blockchain innovation.
A Step Beyond Solana
CMBI previously worked with Singapore’s DigiFT to tokenize the same fund on Solana earlier this year. Now, the BNB Chain launch extends that effort to a wider audience and deeper onchain integration.
Inside the Tokenized Fund
Launched in early 2024, the fund mainly invests in USD-based deposits and government-backed instruments across major economies, including the US, China, and the EU. It operates under Hong Kong’s open-ended fund framework and continues to grow rapidly, with assets under management rising from $2.9B to $3.6B between April and August.
Meet CMBMINT and CMBIMINT
The fund introduces two blockchain tokens — CMBMINT and CMBIMINT — giving accredited investors digital access through fiat or stablecoins. Redemptions are managed via DigiFT, while RWA infrastructure provider OnChain enables token use in DeFi apps for lending or yield generation.
Regulatory Shadows Loom
Recent reports claim China’s securities regulator asked Hong Kong brokerages to halt RWA projects. It’s unclear how CMBI’s tokenized fund fits into these shifting rules. The Hong Kong Monetary Authority and BNB Chain have so far declined to comment.
Footnote:
RWA (Real World Assets): Real-world financial products represented as blockchain tokens.
DeFi (Decentralized Finance): Blockchain-based financial applications without intermediaries.
